Bangalore, June 02: Minister for information technology and biotechnology, Katta Subramanya Naidu, on Tuesday said that the state expects to ink memoranda of understanding relating to investment to the tune of Rs11,000 crore in IT projects, and Rs1,353 crore in biotechnology projects at the two-day Global Investors’ Meet (GIM) beginning on June 3. These projects are expected to create 50,000 jobs in the state.
Infosys, Wipro, and several other major IT companies have expressed interest in investments in the state. Addressing the media, Naidu said that more than 50 projects have already been cleared through a single-window agency. The memoranda of understanding for these will be signed at the GIM.
“In the past two years, 136 IT&BT projects have been cleared by the state government. In 2008-09 we cleared 36 projects, with an investment of Rs9,236 crore. In 2009-10 we cleared 100 projects with an investment of Rs12,357 crore. Some major companies that are investing in the state are Infosys, Wipro, and Tata Elxsi. In all, these projects have the potential to create a million jobs,” Naidu said.
In the tier-2 and tier-3 cities, Mysore, Mangalore, Shimoga and Gulbarga, KEONICS, the government undertaking, has been entrusted the job of developing IT parks. The IT park at Shimoga would be developed by Xchanging Technology Services Limited, USA, with an investment of Rs500 crore, Naidu said.
“The Millennium Biotech Policy-II provides for various fiscal incentives and concessions on lines similar to the concessions provided under the industrial policy. BT policy also provides for the setting up of 10 biotech finishing schools, with state support of Rs1crore. Such schools are expected to provide employable skills to graduates. The policy also provides for the setting up of a bio-venture fund of Rs50 crore, with 26% equity participation by the state. The vision group on biotechnology set up by the state government and headed by Dr Kiran Mazumdar-Shaw has recommended the creation of biotechnology parks in Mysore, Mangalore and Bidar,” the IT and BT minister said.
Naidu said that the rural BPO scheme would get special encouragement. Steps have already been taken for the commencement of 20 rural BPOs. Nearly 10,000 rural youth could expect to get employment, if 100 BPO units could be set up in the state, Naidu said.
–Agencies–