Introduction:
Welcome to Odisha – the land of opportunities for mega projects and fabless design companies! Our state-of-the-art policy is designed to attract investments, boost economic growth, and create thousands of job opportunities. With a wide range of financial benefits and incentives, we invite you to explore the limitless potential of your business ventures in Odisha.
Mega Projects Incentives:
- 25% Subsidy on Land Rate: For the first five mega projects with investments above Rs 5,000 crore, an additional 25% subsidy on land rate fixed as per Industrial Policy Resolution (IPR) will be granted.
- 10% Additional Subsidy on Land: All mega projects will receive a 10% extra subsidy on IPR land rate for the first 200 acres of land for their projects.
- Affordable Water Supply: Water at the project site will be made available at a highly competitive rate of Rs 7.65 per cubic meter, ensuring cost-effectiveness and sustainable operations.
Power Supply Incentives:
- Low-Cost Electricity: Upcoming industries will enjoy a highly subsidized power supply at an astonishingly low rate of Rs 2 per unit for 10 years. Furthermore, electricity duty and inspection charges will be fully exempted, significantly reducing operational expenses.
Financial Incentives for Fabless Design Companies:
- Incentives for Non-DLI Companies: Fabless design companies not covered under the design-linked incentives (DLI) scheme of the Centre will receive exclusive incentives from the Odisha government.
- Seed Money and Milestone Reimbursement: Eligible companies will be provided 10% of the development cost as seed money and an additional 10% as reimbursement upon achieving milestones.
- Financial Cap: Each project or company can avail of a financial cap of Rs 20 crore, with Rs 7.5 crore designated for proof of concept (PoC) and Rs 12.5 crore for productization.
Special Incentive for Mega Projects on System-on-Chip and More:
- Extra Grant for Semiconductors: Mega projects registered in Odisha, dealing with system-on-chip, application-specific integrated circuit, or processor class of products, will receive an additional grant of Rs 10 crore for productization.
- Capex Incentives: In addition to the Centre’s 25% incentives, the state government will provide 10% capex incentives for raw materials and supply chain products in the electronics sector, promoting local manufacturing.
State GST Reimbursement and Production-linked Incentives:
- State GST Reimbursement: Units can avail state GST reimbursement up to 100% of the Fixed Capital Investment (FCI), easing the financial burden and ensuring a competitive edge.
- Production-linked Incentives: Eligible companies will receive one percent of net sales turnover as production-linked incentives for five years, encouraging high-quality output and sustainable growth.
Job Creation and Economic Impact:
The new policy envisions creating approximately 5,000 direct employment opportunities and 20,000 indirect jobs over the span of seven years. This growth will be supported by at least one semiconductor manufacturing unit and over 100 fabless design firms.
Conclusion:
Odisha beckons you with its lucrative incentives and investor-friendly policies. Whether you’re a mega project investor or a fabless design company, the opportunities are boundless. Unlock your business potential, capitalize on the numerous financial benefits, and be a part of Odisha’s incredible growth story. Join us now and experience unparalleled success in the heart of India’s thriving business landscape!
