Noticing the role of IT sector in growth and development of a state, Madhya Pradesh government is now shifting the focus to IT to attract big-ticket investments in the state.
Madhya Pradesh was not considered an investment hub until sometime back. But the state has seen tremendous infrastructure development in the last few years. After Bengaluru and Hyderabad, Madhya Pradesh will be the next IT destination, state chief minister Shivraj Singh Chouhan told FE.
The Madhya Pradesh government signed 12 memorandums of understanding worth Rs 6,407 crore in the IT/ITeS sector during the Global Investors Summit held recently in Indore. Though some of the investors expressed concerns on absence of an international airport, the state assured them the problem would be addressed soon.
Major players like Taurus Microsystems and Fujitsu already have their presence in the state. HCL has identified location in the special economic zone at IndoreIndias first operational greenfiled SEZ. Genpact India has proposed to set up a 7,000-seat BPO facility in Bhopal, with an investment of $34 million.
The Indian IT and ITeS industry is expected to grow five-fold to $148 billion by 2012. India aims to achieve a 50% share in the global off-shored IT and BPO services by 2008, and Madhya Pradesh is targeting 5-10% of the Indian share of the global IT/ITeS market. Currently, the IT/ ITeS exports from the state are $655 million.