ESC to set up Incubation-cum-export Facilitation Centre in US

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Kolkata, May 8: Software Export Promotion Council (ESC) has decided to set up an Incubation-cum-Export Facilitation and Business Support Centre in the US for enhancement of ICT exports.

According to ESC's Eastern Region Chairman S Radhakrishnan 20 IT/ITes non-competing Companies located in New York and Chicago would be handled in the first phase.

Each year, the expenditure for such centres would be about Rs 2.5 crore and run for three years, Radhakrishnan said on Wednesday.

According to him, 50 per cent of the cost was to be borne by the selected Companies, and the balance by the Government of India.

Already five Companies have confirmed their participation in the incubation centre to be set up on the Eastern coast of the US. It was expected to be commissioned by July.

Radhakrishnan said that assistance would be provided to exporters for enhancement of ICT export for accessing new and emerging Markets through ESC's organised events like 'India Soft'.

Welcoming the government's decision to roll out tax breaks for IT Companies working under the STPI scheme for another year, he suggested that it should come out with a policy of extending the sops for a longer period.