Karnataka Innovation and Technology Society (KITS)

The Department of Electronics, Information Technology, Biotechnology and Science & Technology, Government of Karnataka vide its Government Order No. ITBT 101 ADM 2020, Bengaluru dated September 07, 2020 notified the ‘Special Incentive Scheme for ESDM Sector (2020-2025) (‘Scheme’) to attract large investments in domestic manufacturing in ESDM Sector in Karnataka by leveraging the robust ecosystem of Bengaluru which has world class social infrastructure, presence of leading ESDM sector companies (Cisco, Qualcomm, Texas Instruments etc.), proximity to international airport and strong base of skilled manpower. The Scheme provides financial incentives of 25% on capital expenditure on land, 20% on capital expenditure on Plant & Machinery, 100% reimbursement on Stamp Duty / Registration Charges and on Land Conversion Fee, besides Operational subsidies. For effective functioning of the scheme, Operational Guidelines were issued; the latest revised Operational Guidelines were issued on 22nd August 2023 (hereinafter referred to as ‘Guidelines’) as notified vide Government Order No. ITBT 03 PRM 2022 dated 22.08.2023, which replaces the earlier issued guidelines. “Karnataka Innovation Technology Society” (KITS), Department of Electronics, Information Technology, Biotechnology and Science & Technology, Government of Karnataka, is the Nodal Agency for implementation of the ‘Scheme’. Vide work order dated 28th March 2023, KITS has appointed IFCI as ‘Project Management Agency’ (PMA) under the ‘Scheme’ for evaluation of the eligibility and verification of Capital Subsidy claim applications received under the ‘Scheme’ in accordance with the 'Guidelines’ of the ‘Scheme’ and the Service Agreement was entered into between IFCI and KITS on 6th July, 2023.