New Delhi: The government on Friday approved the proposal to set up an Information Technology Investment Region (ITIR) near Hyderabad which envisages spending of about Rs 2.19 lakh crore and generation of nearly 15 lakh direct jobs.
"The Cabinet Committee on Economic Affairs has approved setting up of ITIR near Hyderabad subject to fulfilling certain conditions...The total investment for the ITIR will be about Rs 2.19 lakh crore," Information and Broadcasting Minister Manish Tiwari told reporters here after the CCEA meeting.
Of the total investment, the IT/ITeS sector is to attract investments of Rs 1.18 lakh crore and the electronic hardware manufacturing (EHM) sector of Rs 1.01 lakh crore, according to an official release.
The ITIR is expected to generate direct employment of 14.8 lakh and indirect employment of 55.9 lakh, it added.
The major investments will be from public-private partnerships.
"Government of India has also proposed upgradation of three radial roads and extension of the metro rail from Falaknuma to Shamshabad international airport at total cost of Rs 3,275 crore," it said.
The Andhra Pradesh government has delineated an area of 202 sq km for the proposed ITIR in three clusters - Cyberabad Development Area and its surroundings, Hyderabad Airport Development area and Maheshwaram in the south of Hyderabad and Uppal and Pocharam areas in eastern Hyderabad.
The ITIR will be implemented in two phases. Phase I will from 2013 to 2018 and Phase II will be from 2018 to 2038, the statement said.
It is expected to develop into a key industrial region for IT, ITeS and electronic hardware manufacturing sectors.
Special consideration will be given to accommodate small and medium enterprises (SMEs) in the proposed ITIR.