By Bizodisha Bureau, Bhubaneswar, July 18, 2018: Odisha government has finally announced 20 per cent capital investment subsidy for the IT (information technology), IT-enabled services (ITes) and ESDM (Electronic System Design & Manufacturing) companies investing in the state.

The announcement comes in the wake of the second Make in Odisha conclave to be held in November next.

Notifing the operational guidelines for reimbursement of subsidy on capital investment under Information and Communication Technology (ICT) Policy 2014, the state government has declared 20 per cent investment subsidy on fixed capital investment for plant and machinery (except land & building) for IT/ITES/ESDM units with a maximum limit of Rs 50 lakh for IT/ITes industries and Rs 5 crore for ESDM industries.

However, the state government has pegged the company’s total investment at Rs 50 crore in the state to avail the subsidy.

Official hoped that the investment subsidy will help in attracting investments in the IT and ITes and ESDM sector.

The state government is developing an electronics manufacturing cluster (EMC) under EMC scheme of the Centre exclusively for the ESDM sector. It is coming up on 203 acres of land at Infovalley at the city’s periphery at a cost of Rs 200 crore.

The EMC is expected to attract industries with a combined investment value of Rs 1000 crore with employment potential in excess of 10,000 persons.