In a significant move to attract investment, Bengal introduces the Internet Cable Landing Station Policy 2023, eyeing Rs 10,000 crore investment. The policy offers enticing incentives for setting up ICLS projects, aligning with global tech preferences.
Bengal’s Vision for a Tech-Driven Future: Internet Cable Landing Station Policy 2023
The Bengal Global Business Summit witnessed the unveiling of the Internet Cable Landing Station Policy 2023 by the Bengal government, aiming to secure a substantial investment of Rs 10,000 crore. The policy focuses on creating a carrier-neutral environment, aligning with the preferences of global tech giants such as Google, Facebook, Microsoft, and Amazon.
Incentives to Propel Investment: Stamp Duty Exemption and Beyond
One of the key attractions of the policy is the proposal for a 100% exemption on stamp duty and registration for transactions related to Internet Cable Landing Station (ICLS) projects. Additionally, the policy seeks to waive electricity duty and labor cess, providing a favorable investment climate. Non-financial incentives include the classification of electricity used by ICLS as ‘industrial,’ regardless of location, uninterrupted water supply from the government, and streamlined right of way.
Simplified Processes: Single Window Clearance System and Project Targets
The policy envisions setting up 10 cable landing stations along the coastal line of the state by 2025, with Digha being one identified location. A single window clearance system for ICLS projects aims to streamline processes, fostering efficiency and reducing bureaucratic hurdles. Other coastal locations for cable landing stations are expected to be notified soon.
Bengal’s Tech Initiatives Beyond ICLS: Data Privacy Guideline and Cyber Security Strategy
In addition to the Internet Cable Landing Station Policy, Bengal unveiled the West Bengal Data Privacy Guideline 2023 and West Bengal Cyber Security Strategy 2023 during the sectoral session. These initiatives further underscore Bengal’s commitment to creating a robust and secure technological ecosystem.
Investment Commitments: Data Center and World Trade Center Projects
Prominent figures in the industry, such as Prasoon Mukherjee, Chairman, and Founder of Universal Success Enterprises, announced plans to develop a data center at Bengal Silicon Valley Hub in New Town with an investment exceeding Rs 2,000 crore. World Trade Center NDITA, a project by Merlin in Salt Lake, signed MoUs with centers in Mumbai, Bangalore, Chennai, Kochi, and Noida, enhancing trade prospects with Bengal.