CCEA nod to establish Information Technology Investment Region (ITIR) in Hyderabad
The Cabinet Committee on Economic Affairs (CCEA) has given nod to the set up of Information Technology Investment Region (ITIR) near Hyderabad, Andhra Pradesh.
Information Technology Investment Region (ITIR):
The project dedicated Information Technology and Electronic Hardware manufacturing will be spanned over 50000 acres and is projected to attract investment to the tune of Rs. 2.19 lakh crore over 25 years. It is expected to generate direct employment of 14.8 lakh and indirect employment of 55.9 lakh.
The feasibility of the project would be studied by the Union Ministry of Road Transport & Highways, Union Ministry of Urban Development and Union Ministry of Railways.
Government of India has also proposed up-gradation of three key roads and extension of the Metro Rail from Falaknuma to Shamshabad International airport at total cost of Rs. 3275 crore.
The implementation of ITIR will be carried out in two phases. The Phase I will from 2013 to 2018 and Phase II will be from 2018 to 2038.
The CCEA had approved a Policy Resolution to set up Information Technology investment Regions (ITIRs) in different States and UTs in the country, to promote investment in IT or ITES and Electronic Manufacturing sector.
As per this policy, the State Government would play the main role in creating the ITIRs. The infrastructure would be set up or upgraded through Public-Private Partnerships (PPP) to the extent possible.
The Central Government will provide the necessary viability gap funding for external physical infrastructure through existing schemes. The Department of Electronics and Information Technology (DeitY) is the nodal Department of the Government of India to process proposals relating to setting up of ITIRs.