IT Investment Region (ITIR) to come up in Bangalore, Karnataka

India’s first IT Investment Region (ITIR) for knowledge-based industries, including software and hardware firms with entire supply chain, to come up in Bangalore. The high-powered committee of the Ministry of Communications and Information Technology has sanctioned the ITIR proposal from Karnataka and forwarded it to the Union Cabinet for clearance, which is expected soon.

  • Proposed to pull in global investments to the tune of Rs 2 trillion and create a million direct jobs over the next 10 years.
  • To be built under the PPP (Public-Private Partnership) model with joint investment by the central and state governments.
  • The knowledge park will be a self-sustainable integrated investment region for setting up software firms, back offices
  • Will have a hardware park for electronics cluster, including chip designing and manufacturing units, with world class infrastructure facilities.
  • Will also have a residential township, an airstrip, high-speed rail network, shopping plaza, hospitals, schools and recreational facilities for the communities living there.
  • Companies in the region will be entitled to tax benefits and other incentives akin to the SEZ policy by the central government.

Two other States which have also proposed for a similar proposal in their regions:

  • Andhra Pradesh and Tamil Nadu

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