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Bangalore: Bangalore
will have the country's first Information Technology Investment
Region (ITIR) for knowledge-based industries, including software
and hardware firms with entire supply chain, an official said
Monday.
"The ITIR is projected to attract global investments to the tune
of Rs.2 trillion and create a million direct jobs over the next 10
years," an official said.
The high-powered committee of the ministry of communications and
information technology has approved the ITIR proposal from
Karnataka and forwarded it to the union cabinet for clearance,
which is expected soon.
"The integrated region will be built under the PPP (public-private
partnership) model with joint investment by the central and state
governments near the international airport," Industry Secretary
M.N. Vidyashankar told reporters here.
The state government plans to float a global tender to select a
developer to build the ITIR in about 10,200 acres in two phases.
Land measuring 2,080 acres has been identified for the first phase
and preliminary notification issued to farmers for acquisition at
the prevalent market rate.
"The knowledge park will be a self-sustainable integrated
investment region for setting up software firms, back offices and
an hardware park for electronics cluster, including chip designing
and manufacturing units, with world class infrastructure
facilities," Vidyashankar said.
The region will also have a residential township, an airstrip,
high-speed rail network, shopping plaza, hospitals, schools and
recreational facilities for the communities living there.
"We have appointed international consultancy firm Deloitte to
prepare an RFP (request for proposal) documents and terms and
conditions for the global tender to select project developers,"
the official said.
Indian IT bellwethers TCS, Infosys and Wipro have shown interest
in setting up their software development centres in the region.
"Companies in the region will be entitled to tax and other
incentives similar to those being provided under the SEZ (special
economic zone) policy by the central government," Vidyashankar
added.
Andhra Pradesh and Tamil Nadu are the other two states which have
proposed similar investment regions in their respective states.
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