Airtel, CtrlS, and Holoware Submit Major Investment Proposals in Bihar's IT Sector

Bharti Airtel, data centre company CtrlS, and personal computer maker Holoware have submitted their proposals for investments in Bihar under the state’s new IT Policy, 2024, senior government officials said on Thursday.

Speaking at the Bihar Business Connect 2024 here, IT Secretary Abhay Kumar said that the incentives under the state’s IT Policy 2024 are the best compared to the policies of any other state.

He said the state has received a tremendous response from investors.

“Airtel and Ctrls are in a very advanced stage. They have already taken stage 1 clearance. They are submitting financial proposals and very soon you will see their actual investment happening,” Kumar said.

He said Chennai-based Holoware is also investing in the state for manufacturing IT hardware.

“They (Holoware) are putting up their factory for laptop PCs. One of their proposals of Rs 30 crore is already cleared, and in time to come they are supposed to make an investment of Rs 300 crore,” Kumar said.

He further said investment proposals from TCS, HCL and Tiger Analytics have already come last year.

“If you have made an investment of Rs 100 crore, the amount of money you can get back from Bihar is around Rs 70 crore. It is humongous. There is no comparison with any other IT policy across states which can match us,” Kumar said.

Bihar IT Policy has the provision for an incentive of 50 per cent of the lease rental expenses. The subsidy will be provided for five years with an annual increase in the monthly rental limit by Rs 2.5 per square foot every financial year.

“Some of the states have better ecosystems than us but we are a starter and in time to come, we will become leaders. We are trying to create small IT cities,” he said.

Bihar Special Secretary for IT Arvind Kumar Choudhary said that after the announcement of the policy, the state has received total investment proposals of over Rs 4,000 crore in the last 11 months.

(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)