Karnataka receive investment proposals worth Rs12, 353 crore
02 Jun 2010
Karnataka, India's knowledge hub and favourite destination with companies in the IT and biotechnology (BT) sectors has received investment proposals from as many as 55 companies to the tune of over Rs12, 353 crore.
"We have received investment proposals worth Rs11,000 crore from IT firms and Rs1,353 crore from biotech firms. Among them are Infosys, Wirpo, TCS and Tata Elxsi," state IT and BT minister K Subramanya Naidu said yesterday.
IT bellwethers that already have a strong presence in the state would be expanding their operations with additional software development centres in the tech hub.
The state government will sign memoranda of understanding with 55 IT and BT firms at the Global Investors Meet (GIM 2010) on 3 June to set up operations in the proposed Information Technology Investment Region (ITIR) at Devanahalli near the Bangalore international airport.
"Many developers have come forward to set up IT parks in the ITIR, which will be 2,200 acres in the first phase. We hope to create three million direct and indirect jobs in the region in two phases," Naidu said.
A management board to govern the ITIR will be constituted by the state government and the state empowered committee under the chairmanship of the chief minister will be the apex body on all matters related to the ambitious project.
Global management consulting firm Deloitte has prepared a project report on ITIR which is awaiting the approval of the central government.