Bharti Airtel, a leading Indian telecom operator is looking to invest in Bihar to get benefits from the new IT policy. Airtel has a PAN-India business, and it is always looking to expand its business meaningfully. Under the new IT policy from Bihar, companies have an incentive to get most of their invested money back from the state. The telco is in an advanced stage and has already received the stage 1 clearance.
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Apart from Airtel, there are other tech companies that are looking to invest in Bihar. CtrlS, a data center player along with Holoware, an IT hardware manufacturer are also looking to get benefits from the new IT policy. According to a PTI report, Bihar's IT Secretary Abhay Kumar said that Ctrls is also in an advanced stage like Airtel and has gotten the Stage 1 clearance.
Actual Investments to Start Flowing in Soon from Airtel and CtrlS
Airtel and CtrlS are going to submit their financial proposals soon and their actual investments will flow in soon after that, said Kumar. Holoware is looking to make laptops in the state. The company has received a clearance for a Rs 30 crore investment, and very soon will also make more investments to the tune of Rs 300 crore in the state.
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Many other major IT companies such as HCL, TCS, and Tiger Analytics have already come last year. As per Kumar, if a company invests Rs 100 crore in the state, it will get back Rs 70 crore. He said that no other state's IT policy offers such incentives to the companies.
Under the Bihar IT policy, a provision has been made for an incentive of 50% of the lease rental expenses. The subsidy will be provided to the companies for five years with an annual increase in the monthly rental limit of Rs 2.5 per square foot every financial year.
