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KTR is looking for a Scheme Center on ITIR lines
Minister of Information Technology and Municipal Administration KT Rama Rao has asked the Central Government to consider providing a scheme or initiative in place of the IT Investment Region (ITIR) to ensure that cities like Hyderabad continue to thrive and provide employment for young people.
Telangana youth are eagerly awaiting new employment opportunities that can be created with the support of the central government in the IT sector. Cities like Hyderabad are economic engines that contribute tremendously to the country’s economy and therefore it was important that such cities be rewarded through new policy initiatives and incentives, the Minister said.
In a detailed letter to Union IT Minister Ravi Shankar Prasad, Mr Rama Rao said it was quite clear that the Union government was not inclined to continue the ITIR scheme. I make a serious request on their behalf (young people) to use your good offices to announce an initiative on ITIR lines, he said.
He recalled that numerous calls were made on behalf of the Telangana government over the past six years to sanction ITIR funding in Hyderabad. Prime Minister K. Chandrasekhar Rao had called on Prime Minister Narendra Modi on many occasions, both in person and through official letters, to provide assistance to the ITIR project. As IT Minister for the state, I have also met with you and asked you to release funding for the ITIR project, he said.
However, there was no response from the Union government to this important initiative. Valuable time was lost as the State government continued to pursue the ITIR project without any response from the Union government. Given the importance of the IT sector and its contribution to the overall economy, a quick response to this important issue would be appropriate. Lakhs of local youth have been deprived of employment due to the unaid attitude of the Union government, he complained.
He also said the ongoing pandemic had a severe impact on several sectors across the globe, but the tech industry in Hyderabad faced minimal disruption in carrying out its activities.
He said recent estimates show that IT exports from the State were expected to grow over 7% to touch 1.4 crores (about US $ 19.1 billion) for the 2020-21 fiscal year. The national growth rate over the same period, according to NASSCOM, was estimated to be 1.9% at $ 150 billion.
At the same time, the city saw a new office space of 8.7 million square feet, despite COVID’s strong impact on the economy. In terms of the sector occupiers, the IT / ITeS sector, including data centers, dominates followed by the banking sector, financial services and insurance and manufacturing sectors.
The State Government was aggressively promoting emerging technologies such as Artificial Intelligence, Data Analysis, Internet of Things, cybersecurity, digital entertainment technologies, Blockchain and drones, among others. In addition, the proactive role of the State government in encouraging product development, R&D, and skills development in emerging technology fields had also encouraged many global and domestic IT companies to bring their technology development centers to Hyderabad. he added.
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