‘Tamil Nadu to create 3 mn jobs in IT sector’July 29th, 2008 - 8:32 pm ICT by IANS
Chennai, July 29 (IANS) Tamil Nadu’s Information Communication Technology (ICT) policy 2008-9, aiming to provide employment to three million people in the next three years was unveiled Tuesday by Chief Minister M. Karunanidhi. Releasing the ICT policy, Karunanidhi said: “Tamil Nadu will be Asia’s ICT hub by creating a knowledge-driven economy, leveraging entrepreneurship and promoting socially inclusive growth.”
The state will invest Rs.2.5 billion for expansion of existing IT-ITES facilities in Chennai, Thiruvallur and Kancheepuram districts, he said.
Units employing over 100 workers would be eligible for capital subsidy of Rs.3 million and electricity tax exemption for two years. This exemption would increase up to five years if new IT-ITES firms invested Rs.2 billion and employed over 400 direct workers, the policy said.
The government will provide tax incentives for investors investing between Rs.50 million and Rs.500 million in the IT sector, the policy said.
Tamil Nadu contributes $5.7 billion worth of IT and ITES products and services to India’s IT basket.
Tags: 50 million, asia, chief minister, electricity, hub, India, information communication technology, investors, jobs, kancheepuram, knowledge driven economy, rs 50, rs 500, subsidy, tax exemption, tax incentives