Maha cabinet approves new IT and ITeS policy to attract Rs 95,000 crore investment

Maharashtra state cabinet approved a new IT and ITeS policy which aims at garnering investments worth Rs 95,000 crore and generating 35 lakh jobs. Maharashtra was among the first states in the country to have an IT policy in 1998. It then updated its policy in 2015, but it lapsed in 2020.

According to a report of Indian Express, The new policy has the capacity to take the state to the forefront of the IT industry in the country. The objective of the policy is to bring the investment of Rs 95,000 crore, generating 35 lakh jobs and carrying out the export upto Rs 10 lakh crore, an official said.

Under the new policy, IT will be considered an essential service as it has a global clientele. IT and ITeS units will be permitted to work 24x7x365 days without a closedown, except for some exigencies where state or Centre think fit to keep the operation in suspension. IT units will be granted continuous industry status.

M-Hub will also act as a state apex institute for promoting entrepreneurship. It will be established at the premises of the Maharashtra State Small Industrial Development Corporation (MSSIDC) at Kalamboli, District-Raigad. There will be a state-of-the-art building that will have training facilities for 300 students as well as accommodation for students and faculty or academic staff.