Hyderabad. Hyderabad ITIR, A.P. finalises IT investment region proposals for Information Technology Investment Region
Hyderabad News. Hindu/BS 04.02.10
(Excl Ventures News) The proposals for development of the Information Technology Investment Region (ITIR) prepared by the Information Technology and Communications Department have been approved by Andhra Pradesh Chief Minister K. Rosaiah.
The ITIR would be developed over an extent of 202 sq.km (50,000 acres) comprising areas such as Gachibowli, Madhapur and surrounding areas, Maheswaram, Raviryal, Adibatla and Mamidipalli areas and Uppal and Pocharam. These areas would be self-contained townships with the best infrastructure, residential, commercial and social infrastructure promoting concept of ‘Walk to Work’.
Hyderabad ITIR aims to attract a whopping investment of Rs 2.19 lakh crore and to create nearly 15 lakh direct jobs.
The massive 25-year plan is aimed at attracting an investment of Rs 2.19 lakh crore in the IT &ITeS sector and create direct employment for 15 lakh youths, state IT Minister Komatireddy Venkat Reddy told reporters here after a high-level review meeting with Chief Minister K Rosaiah in the Secretariat today.
The minister said the ITIR would create 53 lakh indirect employment as well.
"The Chief Minister has approved the ITIR plan today and we will soon be sending it to the Government of India for sanctioning. Andhra Pradesh will be the first state in the country to have an ITIR," Venkat Reddy said.
"The ITIR will enable us to step up our IT exports to Rs 2.35 lakh crore in the next 25 years," the Minister added. The state government would also like to develop a similar ITIR at Visakhapatnam. "We will plan it after the Hyderabad ITIR gets sanctioned by the Center," Venkat Reddy said.
Comment :
ITIRs are long term projects. The notified ITIR regions will have infrastructure tag enabling easier funding & other benfits for IT industries. The proposals need to be approved by Central Govt. Chennai & Bhubaneswar had already submitted ITIR proposals months ago, to Center. Bangalore followed suit last month.
