This will be the first agreement signed by the government after it recently announced its IT-incentive policy. GECIS will set up a data processing unit at Uppal near Hyderabad with an investment of Rs 75 crore, according to Scott Bayman President and CEO of GE India.

As per the MoU, GECIS will purchase land from APIIC for seting up a remote processing unit, duly availing the incentives offered under IT policy. It will enable GECIS to receive a host of incentives both in terms of subsidies and procedures as part of the IT policy. According to Bayman, the company will provide about 4,000 jobs to IT professionals within a period of three years.

Initially, the company proposed to offer services such as e-commerce initiates, e-mail-based customer services as well as a broadrange of financial products and services. GECIS has already established a processing unit at Gurgaon near Delhi. However, Hyderabad will become the primary centre due to its unique expansion linked incentive policy. Further, the policy also incentives in the form of general permission to run three shift operations, he added.

The company aims to cater to at least 90 per cent of overseas customers, and services offered include data entry and processing, IT-based accounting and account management, marketing information services, IT-based billing and services, design centres.