CHENNAI: The upcoming Information Technology Investment Region (ITIR) in Tamil Nadu will generate employment for 15 lakh people of which 7.5 lakh will be in the first phase, spread over 5 years, upto 2013-14. The next five years will account for the balance.
Planned over 1,000 sq kms, the ITIR being developed by Tamil Nadu Industrial Development Corp (TIDCO) will be located in Kancheepuram district. Work is expected to start over the next 6 to 12 months after completion of the notification process and the green signal by the Central Government.
“A revenue of Rs 142,925 crore will be generated from the ITIR, of which Rs 106,025 crore will be contributed by the IT and ITeS industry. The electronics hardware sector will account for the balance. The first phase alone will contribute a business volume of Rs 71,125 crore with the IT and ITeS sector spanning Rs 55,125 crore,” a senior official of TIDCO told Express.
While attracting employment and investments into the Region, the ITIR Policy announced in May 2008, will boost the growth of IT and IT enabled services (ITeS) as well as the Electronic Hardware Manufacturing (EHM) units. ITIRs will also ease the pressure on existing urban centers by enabling growth of new townships.
The proposed TNITIR will involve an outlay of Rs 45,560 crore for the development of infrastructure, linkages and new townships within the Region. Of this Rs 19,244 crore will be funded by the Centre for external linkages, the state government chipping in with Rs 5,116 crore for utilities and the private sector bringing up the rear with Rs 21,200 crore.