Bhopal IT Park to create 75 thousand jobs
- Bhaskar News
- Aug 07, 2011, 02:40 AM IST
Bhopal: After a prolonged wait of five years, the dream of Bhopal IT Park has moved closer to reality with the state government allotting 25 acre land to New York-based company-Messrs Underhill Technology near the airport.
Apart from that the government has also initiated to develop the land near the proposed IT Park for other business purposes. The administration is looking to create nearly 75 thousand jobs through both the projects.
The IT Park will be developed by the Madhya Pradesh State Electronics Development Corporation (MPSEDC).
“The government has approved land allotment to Messrs Underhill Technology. The administration is also planning to develop 25 acre more land near the proposed IT Park. We hope that the IT Park will soon take shape,” Anuarg Srivastava, MD, MPSEDC, said.
Messrs Underhill Technology has been allotted 25 acre land in Badwai. The company is expected to invest Rs 50 crore to Rs 100 crore on the development of IT industry.
As per policy guidelines of the Information Technology Department, Messrs Underhill Technology, I.N.C. New York shall provide jobs to 350 people at the rate of per hectare.
Besides, the company shall be required to invest from Rs 50 crore to 100 crore as the company is being provided land at concessional rates.
According to a press release from the Madhya Pradesh government, the company will get possession of land only after it furnishes a bank guarantee of difference amount between concessional rates and market rates.
If the Company fails to comply with the terms and conditions of providing jobs and investments then the bank guarantee will be forfeited by the State Government. Under the policy of Information Technology of State, the Company will get other concessions and facilities.
Experts criticise government’s terms and conditions
IT experts believe that the policy of the state government asking the IT companies to provide jobs to 350 people at the rate of per hectare will prevent companies from coming to the region.
Vasudev Dahalwar, associate professor, Maulana Azad National Institute of Technology (MANIT) said that the government’s policy could create serious strategic issues.
“Well established companies can create 350 jobs per hectare but the smaller firms will face problem adhering to the compulsory government rule,” Dahalwar said.
Another IT boost for MP: New York Company to open office in Bhopal