Infosys executive co-chairman S Gopalakrishnan said on the sidelines of the CII eastern regions annual general meeting that although it is clear that the government will not allow the project to be an SEZ, both the company and the state government will look into alternatives for the project.
Both Gopalakrishnan and West Bengal industry and IT minister Partha Chatterjee were present at the CII programme on Saturday but, according to Gopalakrishnan, they didnt talk about the Infosys project in Rajarhat.
Infosys representatives, according to their time and availability, will come and meet the minister to discuss the project, Gopalakrishnan said. Infosys might develop the Rajarhat campus as a facility that would cater to the domestic market. But as there is no immediate pressure from the domestic market, Infosys wont have to move the Rajarhat project at a fast pace.
Citing the national IT policy, he said there is a target of increasing the revenue from $100 million at present to $300 million by 2030. This is feasible, with IT companies increasing their footprints across the globe as well as domestic markets. Infosys will not be an exception to this case, he said.
However, he made it clear that though Infosys is looking at possible alternatives in the state, it isnt happy with the governments way of handling the investment.
The government has a political principle and we respect it, but industrial promotion is something a government is expected to do, Gopalakrishnan said.
He said an SEZ status gives a company huge income tax benefits which facilitate reinvestment thereby helping industrial promotion.
Both Wipro and Infosys took 50 acres each at Rajarhat during the earlier Left Fronts regime. Infosys paid R75 crore for the land and planned a R250 crore investment. The projects were expected to create huge employment opportunities but got stuck because of the SEZ issue.
However, Chatterjee said the state has received R2,250 crore worth of investment proposal in the IT sector in the last 22 months, of which TCS would invest R1,250 crore and the rest would be invested by ITC InfoTech, Cognizant, among others. ITC InfoTech and Cognizant will create 15,000 job opportunities, he said.