The Information Technology Investment Region (ITIR), planned to be set up near the Bangalore International Airport (BIA), Devanahalli, at a cost of Rs 1.06 lakh crore, is expected to generate more than 3 additional million jobs.
Making a suo moto statement in the Legislative Council on Wednesday, IT and BT minister S R Patil said the Union Cabinet cleared the much awaited mega ITIR project in its meeting on Tuesday.
Stating that the ITIR project is expected to generate an annual business turnover of over `2 lakh crore, the minister said that it would also attract an investment of over `1.06 lakh crore, which is going to be implemented in two phases. “The project is expected to provide 1.2 million of direct jobs and another 2.8 million indirect jobs,” the minister told the House.
Patil said the project is expected to boost the growth of IT and ITES and electronic hardware manufacturing sectors in a big way.
Stating that the state-owned KIADB will be asked to speed up the necessary processes to realise the project, including land acquisition and handing over it to the developers, he said the state government has already issued a preliminary notification for the acquisition of about 2,072 acres of land located near Doddaballapur and Devanahalli taluk for the first phase.
While internal infrastructure would be developed by the master developer or a consortium of developers, the Union government would assist in external infrastructure and providing linkages like rail, road and telecom connectivity.
He said the project would be governed by a separate legislation passed in the Legislature. The Karnataka ITIR Act 2010 was envisaged to set up a state-level empowered committee chaired by chief minister and the management board headed by the IT minister. The mega IT infrastructure project has been proposed to be developed in two phases: the first phase would be implemented between 2012 and 2020 and the second phase would be executed between 2020 and 2032.
“The project will be spread over 40 sq kms to the north of BIA,” he added.
“The ITIR project is yet another feather in the cap of Bangalore, the IT capital of the country,” he told the house.