Q: What is STPI?
A: STPI stands for Software Technology Parks of India, which is an autonomous society established by the Indian Ministry of Electronics and Information Technology to promote software exports from India.

Q: What are the objectives of STPI?
A: The primary objectives of STPI include promoting software exports, providing a conducive environment for the growth of the IT industry, fostering entrepreneurship and innovation, and facilitating the development of software technology parks across India.

Q: What services does STPI offer?
A: STPI offers a range of services to software exporters, including infrastructure support, such as office spaces and data centers, statutory and regulatory compliances, technical support, and facilitation of government incentives and benefits.

Q: What are the advantages of setting up an STPI unit?
A: Setting up an STPI unit offers several advantages, such as tax benefits, access to state-of-the-art infrastructure and facilities, reliable connectivity, exemption from import duties on certain goods, and support in obtaining government approvals and clearances.

Q: What is STPI Compliance?
A: STPI compliance refers to adhering to the rules, regulations, and guidelines set by the Software Technology Parks of India (STPI) for IT and software companies operating within the STP scheme. STPI compliance ensures that companies fulfill their obligations and meet the requirements specified by STPI and other relevant authorities.

In addition to STPI, the Reserve Bank of India (RBI) keeps track of all export-import activities. In circular RBI/2013-14/254 A.P. (DIR Series) Circular No.43 dated September 13, 2013, the RBI mandated the submission of the SOFTEX for the export of software even if the value is less than USD 25,000.

Non-compliance with STPI regulations can result in penalties, fines, or other legal consequences. It is essential for IT companies registered under the STP scheme to ensure ongoing compliance with the guidelines and requirements set by STPI and relevant authorities to maintain a favorable business environment and access the benefits and incentives provided under the STPI scheme.

Q: What are the types of units under the STPI scheme?
A: Under the STPI (Software Technology Parks of India) scheme, there are two main types of units:

STP (Software Technology Park) Units: These units primarily focus on software development, IT-enabled services, and other IT-related activities. STP units operate within the physical premises of a designated Software Technology Park. They benefit from infrastructure support, reliable connectivity, access to shared facilities, and various incentives offered by the government to promote software exports and the IT industry.

EHTP (Electronic Hardware Technology Park) Units: These units cater to the electronic hardware industry, including the design, manufacturing, and testing of electronic components and products. EHTP units operate within Electronic Hardware Technology Parks. They benefit from infrastructure support specific to the electronics and hardware sector, such as specialized laboratories, testing facilities, and access to shared resources.

It’s important to note that while STP units primarily focus on software-related activities, EHTP units are specialized for electronic hardware industries. Both types of units enjoy benefits under the STPI scheme but cater to different sectors of the IT and technology industry in India.

Q: What does the term “Softex” refer to in the context of the IT industry in India?
A: Softex refers to the Software Exports Declaration, which is a mandatory process for documenting and certifying software exports from India. In the context of the IT industry in India, Softex is a mechanism that ensures compliance with foreign exchange regulations and provides proof of software export transactions.
It involves the submission of Softex forms or related documents to the appropriate authorities, such as the Software Technology Parks of India (STPI) or authorized banks. The purpose of Softex is to maintain transparency in software exports, facilitate the smooth receipt of foreign remittances.