Ministers lay foundation for Phase-II IT Park in Indore | indore | Hindustan Times
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Ministers lay foundation for Phase-II IT Park in Indore

indore Updated: Oct 22, 2016 09:06 IST

Finance minister Jayant Malaiya (extreme right) and state industry minister Rajendra Shukla (second from right) inspect the exhibition ahead of Global Investors Summit in Indore on Friday. (Shankar Mourya/HT photo)

Riding high on the wave of Global Investors’ Summit (GIS), finance minister Jayant Malaiya and industrial minister Rajendra Shukla on Friday laid foundation stone for Phase-II of IT/ITES Complex adjacent to the existing Crystal IT Park on Khandwa road in Indore.

“It will develop a unique platform for young entrepreneurs and promote start-ups in IT sector,” said the finance minister. The Madhya Pradesh Aydyogik Kendra Vikas Nigam (MPAKVN) will set up the IT Park with an estimated cost of Rs 45 crore in the next 18 months, said Malaiya.

The IT Park will be facilitated with more than 100 Incubation centres for start-ups, conference halls, IT offices, restaurants, gym and adequate parking facilities spread across 20,000 square meter area.

Industrial minister Rajendra Shukla said Indore was emerging as the third alternative and would have the potential to compete with Bangalore and Hyderabad

Malaiya recalled an incident where a proposal for setting up IT Park in Indore was turned down by Azim Premji. “About 12 years ago, for the first investors’ summit, we went to meet Azim Premji, the chairman of Wipro Limited, asking him to set up an IT park in Indore, but he declined our proposal citing of lack of connectivity and political will. But now, Indore is going to be the next IT hub.”

Malaiya said the Crystal IT Park hosts 12 IT companies of national international repute. Software and IT services worth `180 crore was being exported annually by these companies.

Indore mayor Malini Gaud, AKVN managing director Kumar Purushottam, InfoBeans CEO Siddhath Sethi, along with the CEO’s of the city-based IT firms were present on the occasion.

CM unveils FinTech City model

Chief minister Shivraj Singh Chouhan on Friday unveiled the brochure for “FinTech” city that is slated to be developed on 260-acre area in the Super Corridor.

“Given the strong presence of financial and IT institutions in Indore, there is a lot of scope for giving them better infrastructure,” Chouhan said.

The Indore Development Authority plans to promote the integrated development of these industries by providing them best-in-class infrastructure in the Super Corridor. The acting chairman of the IDA, Shankar Lalwani said, “We have studied the models of Mumbai, Hyderabad and Ahmedabad and are planning to develop the Super Corridor on the same lines.” “We shall also present our proposals before potential investors to invest in the Super Corridor,” he said.

The Fintech City is estimated to create at least 75,000 jobs and will be developed under the public private partnership model.

The IDA is planning massive restructuring in its land use policy to develop the Super Corridor into a techno-financial hub of central India.