The Kerala government has released the draft Information Technology Policy 2023 proposing several incentives to spur further growth in the sector, promote private IT parks and to transform the State into an inclusive knowledge society. The policy sets a target for the State to garner 10% of the IT and electronics industry market share of the country in the next 5 years and making a push in the space industries sector with a specialised park.
As per the policy, private IT parks will be encouraged and the current incentives of the IT parks will be extended to these by way of affiliations. In the four IT development corridors to be identified by the government, any private building with an IT seating capacity of 1,000 or more will be deemed as a private IT park and will enjoy all privileges available for units with the government IT park. To encourage more private developers, the government will provide up to 50% reimbursement of land tax for a period of 5 years for private IT parks and co-developers.
