You are here: Home » Current Affairs » News » National
Business Standard

IT firms' Rs 10K-cr investment proposal in Tamil Nadu intact, says govt

Opposition MLAs blame ruling party AIADMK for failing to attract investments in the region

Gireesh Babu  |  Chennai 

information tech

The government has assured that all the 17 projects in the state’s (IT) sector -- worth an investment of nearly Rs 10, 985 crore --  are intact, and work in all of them are underway.

Among the IT majors that had agreed to make investments in the region during the Global Investors' Meet (GIM) in 2015 are Wipro, Cognizant, Ford and HCL, among others. 
The assurance was given by Tamil Nadu’s Minister for Information Technology, M Manikandan, who added that the state had seen an increase in IT exports even as work in several projects, signed under the GIM, was in progress.

The statement follows allegations saying no new investment has been announced in the region after 2015.

IT exports from went up to Rs 1,01,985 crore during 2016-17, from Rs 98,117 crore during the previous financial year, said the minister.

Among the projects agreed upon during the GIM, Corporation had inked a memorandum of understanding (MoU) for a Rs 500-crore project in Trichy and Madurai. 
According to the state government, the tech major has already invested Rs 150 lakh in setting up a facility, employing around 600 employees, in Madurai. The second stage of construction of the project is underway.

Meanwhile, Corporation has started operations in its Chennai unit with 150 employees, while VE Technologies has begun partial operations in the region.
Cognizant, which has signed for an investment of around Rs 100 crore to provide employment to 20,000 people, is developing facilities in Coimbatore and Kancheepuram. 

Zoho Corp, a SaaS-based company, is awaiting an approval from the authorities before it begins work on its Rs 3, 000 crore investment project. Infocity is also waiting for the approval of an investment of around Rs 15,000 crore to establish another facility in Chennai.  Construction work related to the facility, which is likely to provide employment to 25,000 people, will begin soon, assured the state legislative assembly on Tuesday. 

The state government is also developing an in Hosur, using a land are of 104 acres, with four companies already signing to work there. The facility will be inaugurated by Chief Minister in the coming two months. 

As part of its skills development program, the state government has distribiuted around 32,56,104 laptops to students in An investment of Rs 4,921 crore was made in this respect. 

government has plans to supply another 5,36,000 laptops to the students in the near future. Plans of developing BPOs in rural areas are also being mulled. 

Rival party Dravida Munnetra Kazhagam (DMK) has alleged that the AIADMK-ruled state has not been attracting any new investments in the IT sector in

First Published: Tue, July 04 2017. 20:11 IST