With a view to attracting more IT companies in the state and provide space for offices and other purpose, state will soon expand its existing 'Crystal IT park' in Indore. "It would be a new IT park where we will offer more space to the existing and potential investors," Rajendra Prasad Shukla state industry minister told Business Standard
. The state is likely to showcase the propsed park in teh forthcoming global investors summit to be hosted in Indore
on 22-23 of this month.
The park will be developed by Audyogik Kendra Vikas Nigam Indore, an arm of state industry department. However, the state is looking at big-ticket investment from Infosys
- the IT giants. Both the companies have obtained 100 acres of land each and are developing similar IT campus in Indore.
"An area of 200,000 sq ft will be created in the park on an adjacent land lying vacant near existing crystal IT park," the minister said further, "the new park will be developed with an investment of Rs 47 crore." Another area of equal spread will be developed through private partnership mode.
"The new IT park will be developed on 2.5 acres near Crystal IT Park with an investment of Rs 47 crore," state industries minister Rajendra Shukla said at a meeting with the officers of his department.
Built as India's first IT-specific special economic zone has limitation to house only 100% export oriented Units.
"In fact the minimum salable area offered by Crystal IT park is 8000 sq ft, which does not attract smaller and start-up ventures. Also there is no provision for incubation center since it was conceptualised two decades ago only for software development, the proposed site will offer space for small IT companies and start-ups. Also there will be incubation center," a well-placed official in state government said, "More than 60 companies, small and medium, have expressed interest in the proposed IT park."
The state also has launched a new Incubation and start-up policy recently during a recent conclave of micro, small and medium enterprises (MSME) as a part of GIS-V to be organised on 22-23 of this month.
The policy offers a maximum of Rs 50 lakh as financial assistance to the incubation centers up to a period of three years (except for investment in land or space). Also another financial assistance up to Rs 5 lakh per annum for operation of incubation centers with plug and play facility.
In addition the incubation centers will get a financial support up to Rs 2 lakh per annum for a period of three years to get consultancy services from professors of various institutes of national or international repute.
For start-ups, the state will offer an interest subsidy on bank loans obtained by entrepreneurs to an extent of Rs 4 lakh per annum for a period of three years. Further an amount of Rs 3 lakh per annum for a period of three years as rent assistance if the take any space in an incubation center, Rs 2 lakh and Rs 5 lakh as assistance to get national and international patents, and Rs 10 lakh in lump sum for marketing assistance will also be offered to start-ups.
Located at the prime business area of Bhawanrkuan in Indore, the Crystal IT Park is tagged with country's first IT-specific special economic zone (SEZ). Since 2003, the state industries department has made several attempts to rope in a private partner.
Constructed colossally on an area of 7.99 hectares with an equally huge sum of Rs 55.26 crore, the Crystal IT park building has been developed on an area of 550,000 sq ft and has 51,181 sq mt built-up area. The nine-storied building now has many local IT players.