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IT firms operating from STPIs gets waiver on rent for four months: MeitY

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Ravi Shankar Prasad

The Government of India, in an effort to provide assistance to small and medium IT and ITeS firms operating out of Software Technology Parks of India (STPI), decided to waive off the rent being paid by these companies till June 2020, for a period of four months. Ravi Shankar Prasad, Union Minister of Electronics and Information Technology (MeitY), tweeted about the relaxation of rents on Thursday, April 16.

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“IT units/ startups operating from 60 STPI Centers across India have been granted a waiver from paying rents for the period between March 1, 2020, and June 30, 2020. This will benefit nearly 200 small & medium IT/ITeS units supporting 3000 direct jobs”, the Minister tweeted.

The total cost of the rental waiver provided to these units during 4 months period from 01.03.2020 to 30.06.2020 is estimated to be around Rs 5 Crore.

MeitY had set up STPIs to help small and medium IT and ITeS companies to come up and strengthen the IT infra of the country. There are 60 STPIs across the country.

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The move has posed as a relief for the firms in this time of COVID-19 crisis. Also, it has benefitted around 3,000 IT/ ITeS employees who are directly supported by these units, it added.

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