Government of India has declared Software as has one of the extreme focus area for
growth of exports. Therefore, Govt of India announced a special scheme to promote
software exports called 'The Software Technology Parks (STP) Scheme'.
STP scheme is implemented through software tecchnology parks of India (STPI)
which is an autonomous society of Ministry of Electronics and Information Technology (MeitY), Govt of India.
Salient Features of STP Scheme
Approvals are given under single window clearance mechanism
costing upto Rs. 100 millions whith Indian investment & NRI funds on
non-repatriable basis are cleared by local STP authorities at Centre level
itself100% foreign equity is permittedAll the imports in the STP units are
completely duty freeImport of Goods on loan, free of cost & lease basis
is permittedDomestic purchases are completely excise duty freeDomestic
purchases are eligible for the benefit of deemed exports to the suppliers
The slaes in the Domestic Tariff Area (DTA) are permissible upto 50% of
the export in value terms.