Odisha has rolled out the Business Process Outsourcing (BPO) policy to attract investors as it strives to create 30,000 jobs in this sector by 2022.
The creation of 30,000 jobs by 2022 will require an allocation of approximately 765,000 square feet of office space and about 22.5 acres of a developed land bank with an estimated capital investment of about Rs 200 crore.
The Odisha BPO policy-2019, prepared by the state Electronics and IT Department, assures a capital investment subsidy of Rs 1.05 lakh for units coming within the jurisdiction of Bhubaneswar Municipal Corporation. The minimum number of seats required for availing the benefit has been fixed at 300.
The draft policy also guarantees new BPO and BPM units a reimbursement of 100 percent of state GST (SGST) paid for five years from the date of commencement of BPO units, limited to 100 percent of fixed capital investment. The existing units can avail SGST reimbursement after matching specific criteria.
The Odisha BPO Policy-2019 also offer subsidies for human capital investment, bank interest, and power incentives, for drawing investments in the sector.
According to the policy, lower wage compensation compared to metro cities and the availability of the required talent pool gives an edge to Odisha in drawing investors' attention in the BPO sector.