Govt to consider IT investment region proposal in AP on Friday

NEW DELHI: Government is likely to consider a proposal on Friday to set up an Information Technology Investment Region ( ITIR) near Hyderabad in Andhra Pradesh.

The Cabinet Committee on Economic Affairs (CCEA) is likely to take up the proposal of the Andhra Pradesh government to set up an ITIR near Hyderabad on Friday, a senior government official said.

ITIR is a combination of production units, logistic, public utilities, environment protection mechanism, residential areas and administrative services.

It would include Special Economic Zones, Industrial Parks, Free Trade Zones, Warehousing zones, Export-Oriented Units, growth centres, existing settlements/industries and estates/services.

The ITIR would be developed in an area of 202 sq km (50,000 acres) in two phases over a period of 25 years.

It is likely to attract an investment of Rs 2.19 lakh crore in the IT-ITeS sectors and create direct employment for around 15 lakh youth.

Andhra Pradesh contributes 12.4 per cent of the total IT exports of the country and ranks 4th in IT performance in the country.

During the 2011-2012 fiscal, the state's IT sector reported a total (domestic and export) turnover of Rs 53,246 crore, of which exports (STPI stood at Rs 28,948 crore and SEZ Rs 11,698 crore), while domestic sector reported a turnover of Rs 12,600 crore.