The Telangana region will have to continue to bank on Hyderabad and its growth to achieve economic sustainability.
The city which is the bone of contention between the two regions, has already made a mark internationally thanks to the rapid growth of the IT industry.
The traditional strength of Hyderabad is the presence of several defence and public sector undertakings.
The recently-announced Information Technology Investment Region has raised the hopes of T-protagonists who believe that the project will take the capital to the next level in the international arena.
The Centre will fund the Rs 2.19 lakh crore for the ITIR, which would be spread over Gachibowli, Madhapur, Maheshwaram, Mamidipalli, Raviryal and Adibatla in the south and Uppal and Pocharam areas.
The unfinished semi-conductor hub, Fab City, in Maheshwaram will also be included under the ITIR. The hub will be developed over a period of 30 years in two phases with the first phase ending after five years.
According to the government, Information Technology/Information Technology Enabled Services (ITeS) is expected to attract an investment of about Rs 1.18 lakh crore while the Electronics Hardware Manufacturing sector would attract Rs 1.01 lakh crore worth of investment.
A note on the project also said that the mega industrial hub would generate a direct revenue of Rs 3.1 lakh crore and increase tax revenues by Rs 30,000 crore for the state.
The government has also announced that the hub will generate direct employment for about 14.8 lakh people and indirect employment for about 55.9 lakh people.
With the approval of the ITIR from the Centre, the local infrastructure in Hyderabad is also expected to get a boost.
The government said the estimated cost for upgradation of infrastructure like highways, power substations and radial roads of the ORR stands at Rs 4,863 crore while internal infrastructure of the ITIR will cost around Rs 13,100 crore.
State information minister D.K. Aruna had said the approval of the project would also bring in funding of about Rs 5,000 crore under the first phase for upgradation of the local infrastructure. The Metro Rail will also be extended from Falaknuma till the Shamshabad international airport.
Information technology minister Ponnala Lakshmaiah said the project approval was not linked to the bifurcation of the state and that Hyderabad would reach new heights in the IT sector courtesy the ITIR.
SOURCE:
DC
Adibatla, a once-sleeping suburb of Hyderabad, is a now a buzzing word in the Real Estate market! It is nestled between Nagarjuna Sagar Highway and Srisailam Highway along the Outer Ring Road(ORR) This blog is created to share information related to the developments in Adibatla and surrounding areas.
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