With aggressive plans to add 50,000 jobs in the IT industry over the next two years, Odisha is well-positioned to become one of India's premier IT hubs. According to official sources on Sunday, the State government has developed a comprehensive plan to attract more investors to the IT sector by providing alluring incentives.

The new information technology (IT) policy, which is currently pending cabinet approval, promises companies concessions on electricity, office rent, and capital outlay.

There are plans to improve internet connectivity via underwater cables from Singapore and Malaysia, along with the establishment of a data centre in Puri to strengthen the digital infrastructure.

Upcoming investment plans:

Furthermore, Odisha’s youths will receive a monthly incentive of Rs 25,000 for securing different positions within IT firms. Investment incentives include electricity bill waivers of up to Rs 35 Lakh along with 30 percent relief on capital investment on projects capped at Rs 100 crore. Projects valued between Rs 100 and Rs 200 crore are to benefit from 25 per cent relief while those exceeding Rs 200 crore will receive a 20 percent concession.

Additional incentives for land and office space are available for IT startups and companies aiming to take office spaces on rent. The government plans to cover 50 per cent of the rent for a duration of three to five years, along with a 30 per cent electricity bill reduction for costs up to Rs 35 Lakh. In the initial five years, the government will also cover internet fees up to Rs 12 Lakh annually.