Govt waives off 4 months rental for 200 small IT companies based in STPI
1 min read 16 Apr 2020, 08:48 PM ISTThe Ministry of Electronics and Information Technology has decided to provide rental waiver to these units housed in STPI premises in the country from 1 March till 30 June which amounts to four months as of now
PremiumIn a major boost to the information technology (IT) and IT-enabled services (ITeS) sector, the government of India on Thursday said it will provide relief from payment of rental to the small IT units operating out of the Software Technology Parks of India (STPI), in view of the challenges due to the covid-19 outbreak and consequent lockdown. “Most of these units are either MSMEs (Micro, Small, and Medium Enterprises) or startups," the release stated.
The Ministry of Electronics and Information Technology (MeitY) has decided to provide rental waiver to these units housed in STPI premises in the country from 1 March till 30 June which amounts to four months as of now.
STPI, an autonomous society under Ministry of Electronics & Information Technology, government of India, has 60 centres across the country including a mix of tier 1 cities like Bengaluru, Chennai, Mumbai, and Kolkata and tier 2 cities like Nagpur, Warangal, and Surat.
The initiative to provide rental waiver to the units located in these centres will provide relief to the industry in this crisis situation emerged due to covid-19 pandemic. This initiative will provide benefit to nearly 200 IT-ITeS MSMEs, operating from these 60 STPI centres.
The total cost of the rental waiver provided to these units during the four-month period is estimated to be around ₹5 crore. “This effort is also in the larger interest of around 3,000 IT-ITeS employees who are directly supported by these units," the statement said.
