The Indian government has approved a policy for creating information technology investment regions (ITIRs) in India on Thursday and said that the decision has been taken in order to fuel the growth of electronics hardware manufacturing in the country. The officials of from the government have stated that it has specially-notified these regions and they would include the IT/BPOs, electronics hardware manufacturing units, public utilities, residential area, social infrastructure and also the administrative units.
The sources informed that the Cabinet Committee on Economic Affairs have cleared the policy for setting up such ITIRs on Thursday and decided that each of the ITIRs would be having an area of at least 40 sq km. The committee decided that the regions would attract investment, create employment opportunities, propel economic growth and at the same time, would reduce the pressure on existing urban centers, as well. The government officials added that the ITIRs would also be much larger than an IT SEZ.
According to an official statement released by the government regarding the matter on Thursday, "The State Government would ensure that all physical infrastructure and utilities including power, water, roads, transportation, sewerage and effluent treatment facilities are provided. The Central Government would facilitate the development of national highways, airports and rail link to the ITIRs". The statement added that such regions could also include some new integrated townships, SEZs and industrial parks, amongst others. The statement said that according to the committees decision, the minimum processing area of the ITIRs would be a 40 per cent of its total area.
While talking about the construction strategy of the ITIRs, one of the top officials from the Department of IT has stated that the regions are going to be developed in a phased manner through the public-private partnership (PPP) route. The official said that the developers and co-developers of such projects would be selected by the State Governments. The official added that though the ITIRs would not offer any type of tax sops or fiscal incentives as such, they would provide an excellent infrastructure and investor-friendly policies.
In the words of the official, "These regions would focus completely on IT and electronics manufacturing activities. Unlike an SEZ which offers fiscal incentives, these regions would represent a balanced development. However, SEZs could be located within an ITIR, itself". The official said that a number of 2-3 such ITIRs are likely to come up in the first phase of the project. The official further informed that the government has conceptualized the ITIR policy on the lines of the existing petroleum, chemicals and petrochemicals investment regions framework.
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| Posted : 4/5/2008 |
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