Kerala IT Corridors

In the budget of Kerala that was presented by Finance Minister KN Balagopal, importance has been given to the IT sector of the state, with the focus being given to the futuristic 5G networks.

Overview:

  • Expeditious steps will be initiated by the Kerala government to bring the 5G system to the state and to move forward rapidly in the service sector.
  • Infrastructure development of the IT sector was another important announcement.

Other important announcements

IT Corridors

Along with the existing NH 66, four IT corridors will be made parallel to it as part of decentralizing the state’s IT sector. There will be four lanes in the corridors which will be Koratty-Ernakulam, Thiruvananthapuram Technopark phase-III-Kollam, Kozhikode-Kannur, and Ernakulam-Cherthala. For the extension of the IT corridor, an IT facility will be set up in Kollam which will cover an area of 5,00,000 square feet.

Construction of IT Parks

A new IT park will be constructed at Kannur. Satellite IT parks will be built on 15-25 acres of land obtained at premium prices through land acquisition on the proposed corridor with convenient access from Kozhikode, Ernakulam, and Technopark Phase III through NH 66. In addition, the acquired land would be used to build 20 small parks ranging in size from 50,000 to 2 lakh square feet.

Fundings

Rs 1000 crore has been sanctioned from the land acquisition pool of the Kerala Infrastructure Investment Fund Board (KIIFB) for acquiring land to set up IT parks in Kannur, Kollam, and other areas.

Technopark, Technocity, Infopark, and many more IT centres will be expanded as part of the development of essential infrastructural facilities for the IT sector. Additionally, Rs 100 crore through KIIFB would be provided for the project so that the necessary infrastructure facilities can be developed. As the concept of work near home is gaining acceptance, Rs 50 crore has been earmarked for this purpose.

The fund allocation of Kochi Infopark is Rs 35 crore while that of Technopark in Thiruvananthapuram is Rs 26 crore.

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