STPI: More Relevant than Ever Before

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

STPI: More Relevant than Ever Before 
With the economic uncertainties looming large, STPI (Software Technology Parks of India) scheme, which is a 100 per cent Export Oriented Unit scheme with tax benefits under the Income Tax Act and with facilities such as single-window clearance, has once again come to the forefront of conscious attention.  Some state governments including West Bengal are pitching for the revival of the STPI scheme which ended March 2011. IT firms were offered Income Tax as well as local tax exemption for setting up units under the STPI scheme.Established in 1991 and registered as an Autonomous Society under the Department of Information Technology, Ministry of Communications and Information Technology STPI has commendable job in increasing exports, employment and investment for the software sector.  STPI was set-up to implement the STP Scheme and to promote software exports by providing infrastructure facilities including High Speed Data Communication (HSDC) links. 
The overall exports increased from Rs 205505 crore in 2009-10 to Rs 215264 crore in 2010-11.  Since the demand for land in creating a STP is much less than the sector-specific and multi-sector SEZ, the STPI scheme also proved beneficial for the small and medium enterprises who can operate without any geographical restrictions. 

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