Vittal to head Gujarat special economic zone projectSeptember 25th, 2008 - 8:42 pm ICT by IANS
Ahmedabad, Sep 25 (IANS) Former central vigilance commissioner N. Vittal will be the chairman of the joint venture company that will set up the information technology (IT) special economic zone (SEZ) in south Gujarat.The project, which is likely to generate business worth Rs.100 billion, recently got in-principle clearance from the Board of Approvals for SEZs in New Delhi.
Called the Gujarat Vittal Innovation City Limited, the multi-product SEZ will be a joint venture between a consortium of IT companies, the Entrepreneurship Management Processes Institute of New Delhi, and the Gujarat government through its Gujarat Industrial Development Corporation (GIDC).
A source familiar with the development said the SEZ will be the “first of its kind in India as the entire project will be professionally-led and developer-led,” adding “Companies from Singapore and South Korea could participate in the project.”
The inclusion of Vittal in the company’s name is a kind of tribute to N. Vittal who made dynamic contributions to the development of the IT industry as well as for the part he played in ushering in the telecommunication revolution in India, the source said.
Incidentally, Vittal was also principal secretary of the industry department of the state government.
It was the unanimous desire of IT companies, many of whom will be participating in the project, as well as the telecom industry to incorporate Vittal’s name in the company, officials said.
As chairman Vittal will be the “guiding force” of the company putting up the project.
The sources said the proposed SEZ will have many business segments but the four main segments will be “IT, digital film making, education and high technology industries.”
It will have technical training institutions to nurture a cadre of skilled professionals and will have facilities that will permit outsourcing of research and development.