Chennai, Dec 30: Launching of a policy aimed at making Tamil Nadu the prime destination for global IT investors and a spurt in business process outsourcing (BPO) centres, including that of World Bank, are the highlights of the state's economic scenario in 2002.
Commissioning of the world's biggest submarine optical fibre cable project-I2I(India to international) network- a joint venture between Bharti Group and Singapore Telecom connecting Chennai and Singapore early this year added momentum to the state's economic and industrial march forward.

A memorandum of understanding between the state industrial development corporation and Ascendas, a wholly owned subsidiary of Jurong Town Corporation (JTC), Singapore, was signed in July for implementing the second major IT complex in Chennai, the first one being the prestigious Tidel Park.
The new IT policy provided industrial status to all software firms including IT service and training institutions, exemption from pollution control act for all software firms, green signal for self certification by IT companies for exemption from minimum wages act, contract labour act, workmen compensation act and ESI act.
Under the new policy, IT companies with an investment of Rs 50 crore to Rs 100 crore are eligible for a capital subsidy of Rs 25 lakh and those with investment of Rs 200 crore are eligible for a subsidy upto Rs one crore.



The state's secondary cities like Tiruchirappalli, Coimbatore, Madurai and Tirunelveli are also being developed as major IT centres under the new policy and special purpose vehicles are being set up for the purpose. The state has also set apart over Rs 100 crore for imparting computer education in government higher secondary schools.


Bureau Report