Bharti Airtel, data centre firm CtrlS, and personal computer maker Holoware have submitted investment proposals under Bihar’s new IT Policy 2024. Senior government officials shared the update during the Bihar Business Connect 2024 event. IT Secretary Abhay Kumar highlighted that the incentives offered by the policy are unmatched across states.

Kumar stated that Airtel and CtrlS are progressing swiftly, having secured stage 1 clearance. Both companies are preparing financial proposals, and their investments are expected soon. Chennai-based Holoware has also proposed a project to manufacture IT hardware in Bihar. The company plans to establish a factory for laptop production. One of its proposals, worth Rs 30 crore, has already been approved, and the total investment is expected to reach Rs 300 crore over time.

Last year, the state received investment proposals from TCS, HCL, and Tiger Analytics. Kumar explained the financial advantages of the policy, citing that investors could recover up to Rs 70 crore on an investment of Rs 100 crore. He noted that no other state policy offers comparable benefits.

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The IT Policy includes a provision for a 50% subsidy on lease rental expenses for five years. This subsidy will increase annually, with an additional Rs 2.5 per square foot added to the monthly rental limit each financial year. Kumar acknowledged that while other states have more developed ecosystems, Bihar aims to establish itself as a leader by building small IT hubs.

Special Secretary for IT, Arvind Kumar Choudhary, shared that the state has received over Rs 4,000 crore in investment proposals since the policy was launched 11 months ago.

Bihar IT Policy 2024, Bharti Airtel investment, CtrlS data centre, Holoware manufacturing, IT sector incentives, Bihar tech investments

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