Sriperumbudur, near Chennai, is all set to become India's first IT investment region, as the area is emerging as a hub of electronics, telecom hardware and automobiles, Financial Chronicle reported.
This is an initiative initiated by the Union Communication and IT ministry on the lines of Petroleum, Chemical, Petro-products Investment Region or PCPIR.
A quadrilateral zone of 1,600 sq.km. with its boundaries connecting Chennai, Kanchipuram, Chingleput and Mahabalipuram, will be earmarked as the IT Investment Region. The zone will connect the Chennai-Bangalore NH-4 to Kanchipuram, Chennai-Tiruchi NH-45 up to Chingleput and Chennai-Mahabalipuram IT corridor, besides linking Mahabalipuram, Chingleput and Kanchipuram.
The central and state governments will create necessary infrastructure jointly. However, the governments will neither extend any tax benefits nor assist the investors in procuring the land, a senior state government official informed the media.
The motivation to set up an IT Investment Region in the nearby Sriperumbudur is inspired by the fact that Chennai-Kanchipuram belt has become a hub of electronics and telecom hardware manufacturing industry and that of Old Mahabalipuram Road a software hub. Moreover, there is a vast hinterland lying between these two major corridors that are ideally suited for infrastructure development. In addition, there is a scope for future development rapidly along the arterial road, which is more evenly spread, the official informed the media.
Besides these two corridors, the region encompasses the GST Road (NH-45) that has already attracted investments from automobile giants like Ford.
It is also home to a few SEZs, including Mahindra Global City. The nearly Oragadam belt will be housing several automobile majors like Renault, Nissan, Caparo, M&M and Apollo Tyres, the report said.
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