The Hindu : Other States / Orissa News : State eyes Rs.1,000-cr. investment in IT sector

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Monday, Feb 25, 2008
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State eyes Rs.1,000-cr. investment in IT sector

Staff Reporter

Major firms to pump in their money

BHUBANESWAR: Riding the boom in information technology, Orissa is eyeing at an investment, which will be about four times larger than the existing investment level in the State’s IT sector.

Replying to questions raised by different members in the State Assembly on Saturday, State IT Minister said the Government had obtained investment assurance of Rs.1,000 crore from at least four companies.

The companies, which were going to pump in their money in the State, included Genpact Ltd (Rs. 200 crore), ICICI Easter Regional Hub (Rs. 500 crore), MindTree Consulting Ltd (Rs. 200 crore) and Wipro Ltd (Rs. 100 crore), Mr. Patro informed.

Investment to the tune of Rs. 264.82 crore from 87 companies had so far been grounded in the sector. Of this, Infosys Technologies Limited and Satyam Computer Services Ltd made bulk of the investment with Rs. 200 crore and Rs. 30 crore respectively.

Exports

IT exports made by as many as 33 companies in the State from 2004-05 to 2006-07 was estimated to be Rs. 1,578.36 crore, the IT Minister told the Assembly.

Mr. Patro said Infosys and Satyam outperformed rest of the companies in IT exports by touching the figure of Rs. 596 crore and Rs. 80 crore respectively while total export was estimated to be Rs. 731.94 crore during 2006-07.

The growth in IT export, which hovered around 20 per cent between 2004 and 2006, touched 58 per cent in 2006-07, he said.

Growth

Admitting that the State Government was not collecting any direct revenues from IT companies, Mr. Patro said the State Government derived benefits such as direct and indirect employment, premium towards land cost, increase of business opportunities in service sector and economic development due to presence of IT companies.

Moreover, the State Government would set up Infopark with 4.2 million square feet built up space near Infocity and the Infopark would provide ready-to-occupy space to the new IT companies keen to start their ventures with least gestation, the IT Minister said.

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