IT investments in Tamil Nadu down by 12% to ₹39,831 crore

Our Bureau Chennai | Updated on July 11, 2019 Published on July 11, 2019

But IT/ITeS exports increased by nearly 10 per cent to ₹1.39 lakh crore

For the first time in five years, total investment by IT/ITeS companies in Tamil Nadu, including investments in the special economic zones run by Elcot (a State government undertaking), declined year-on-year during 2018-19.

IT companies invested ₹39,831 crore in 2018-19 (estimate) as against ₹45,506 crore in 2017-18, a drop of nearly 12 per cent, the Information Technology Department’s Policy Note for 2019-20 revealed. The data has been attributed to Software Technology Parks of India and the Ministry of Commerce. The Policy Note said that Electronics Corporation of Tamil Nadu (Elcot) was successful in bringing investments of ₹11,974 crore in the IT/ITeS sector during the Global Investors Meet held in January. No reason was attributed for the decline in investments in 2018-19.

However, on the positive side, IT/ITeS exports increased by nearly 10 per cent to ₹1.39 lakh crore in 2018-19 as against ₹1.27 lakh crore in the previous year. Employment by the sector increased by nearly 4 per cent to 7.37 lakh in 2018-19 (7.01 lakh).

On the laptop scheme, which started in September 2011, the Policy Note said that 38.53 lakh laptops were supplied till 2017-18. For the academic year 2017-18 (part) and 2018-19, the procurement of 15.66 lakh of laptops was finalised through a tender; supplies commenced from March 2019 and they are expected to be completed by October 2019. Till June 30, 2019, a total of 11.13 lakh laptops were procured and supplied, the Policy Note said.

It added that said that Elcot has drafted an Electronics Hardware Manufacturing Policy, which is under the consideration of the State government.

Published on July 11, 2019
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