RENTAL WAIVERS TO STPI UNITS
18, Apr 2020
Prelims level : Governance - Policies Mains level : GS-II Government Policies and Interventions for Development in Various Sectors and Issues Arising out of their Design and Implementation.
Why in News?
- Ministry of Electronics and Information Technology (MeitY) has recently decided to provide rental waiver to small Information Technology (IT) units operating out of the Software Technology Parks of India.
Highlights of the Decision:
- This decision was taken in order to provide a major boost to the IT and IT-enabled services (ITeS) sector amid Covid-19 lockdown.
- Most of the IT units are either MSMEs (Micro, Small, and Medium Enterprises) or startups. So, this initiative will provide benefit to nearly 200 IT-ITeS MSMEs, operating from the 60 STPI centres.
- This effort is also in the larger interest of around 3,000 IT-ITeS employees who are directly supported by MSME and startup units.
About Software Technology Parks of India:
- Software Technology Parks of India was set up in 1991 as an autonomous society under the Ministry of Electronics and Information Technology (MeitY).
- STPI’s main objective has been the promotion of software exports from the country. STPI has played a key developmental role in the promotion of software exports with a special focus on SMEs and startup units.
- STPI has been implementing the Software Technology Park (STP) scheme and the Electronics Hardware Technology Park (EHTP) scheme for the promotion of IT/ITES industry.
- STP Scheme is a unique scheme, designed to promote the software industry and growth of startups and SMEs without any locational constraints. A company can set up an STP unit anywhere in India.
- The EHTP Scheme is a 100% Export Oriented Scheme for undertaking manufacturing of electronic hardware equipment and other items in India.