The two major export promotion schemes launched under the Ministry of Electronics and Information Technology are:
1) Software Technology Parks (STPs): STP of India was set up as an autonomous body in 1991.
Some of the benefits offered are:
a) Customs duty exemption
b) Accelerated depreciation
c) 100% FDI permitted through automatic route.
2) Special Economic Zone (SEZ): They were set up with an objective of providing an international competitiveness. Some of the benefits are:
a) 100% income tax exemption on export income
b) Duty free import. Please note that SEZ are for multiple sectors and these benefits extend to sectors other than IT BPM
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