MeitY to provide a rental waiver to small IT units on STPI premises

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Given the challenges posed by the COVID19 outbreak and the ensuing shutdown, the Narendra Modi government today made an important decision to make rent payments to the small IT units operating from the Software Technology Parks of India (STPI) , to relieve. Most of these units are either technical MSMEs or startups.

The Ministry of Electronics and Information Technology (MeitY) has decided to grant a rental exemption from 01.03.2020 to 30.06.2020, i.e. for a period of 4 months, to these units located on the STPI site in the country.

Software Technology Parks of India (STPI) is an autonomous society under the Ministry of Electronics & Information Technology, Government of India and has 60 centers across the country. The initiative to grant a rental waiver to the units in these centers will provide relief to industry in this crisis situation created by the COVID19 pandemic. This initiative will bring benefits to nearly 200 IT / ITeS MSMEs operating from these 60 STPI centers. The total cost of the rental exemption provided to these units over a 4 month period from 01.03.2020 to 30.06.2020 is estimated at Rs. 5 Crore. This effort is also in the greater interest of approximately 3,000 IT / ITeS employees directly supported by these units.

(With inputs from PIB)

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