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The current coronavirus pandemic has harmed the economy. Among the worst-hit will be small start-ups. In the view, 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). Most of these units are either Tech MSMEs or startups.
Ravi Shankar Prasad is the Minister of Law & Justice, Communications, Electronics & Information Technology. He tweeted:
IT units/ startups operating from 60 STPI Centers across India have been granted waiver from paying rental for period between 01.03.2020 and 30.06.2020.
This will benefit nearly 200 small & medium IT/ITeS units supporting 3000 direct jobs. @stpiindia#IndiaFightsCorona— Ravi Shankar Prasad (@rsprasad) April 16, 2020
The MeitY will provide a rental waiver to units housed in STPI premises in the country from 01.03.2020 till 30.06.2020 i.e. for 4 months period as of now.
Who will this scheme benefit?
- There are 60 centres under this scheme. This initiative will benefit to 200 IT/ ITeS MSMEs under these 60 centres.
Look at this tweet:
@STPIBengaluru UnivLabs is startup and has RnD centre at STPI Bengaluru. For statrtups every support adds up to their survival and with this concession STPI has again proved its commitment to Startup India . We are grateful for this kind gesture!
— UnivLabs Meditech (@UnivlabsM) April 16, 2020
- It will interest around 3,000 IT/ ITeS employees who these units directly support.
- The total cost is estimated to be around Rs. 5 Crore.
Even Nasscom appreciated the initiative.
A welcome move by the govt!
Thank you @rsprasad for making this happen. NASSCOM & its member companies are truly grateful.
Look forward to your continued support as we rebuild the IT industry which we are so proud of. @stpiindia @debjani_ghosh_ @OfficeOfRSP#IndiaFightsCorona https://t.co/8dbYoXbOtF— NASSCOM (@nasscom) April 16, 2020
Software Technology Parks of India (STPI) is an autonomous society under the Ministry of Electronics & Information Technology, Government of India. The initiative to provide a rental waiver to the units located in these centres will provide relief to the industry in this crisis emerged due to COVID-19 pandemic.