TCS, Infosys line up to invest in Indore

Indore has emerged as an attractive investment destination for IT companies which are looking to expand operations amid global economic slowdown. According to industry experts, availability of workforce, incentives by the Madhya Pradesh government and availability of facilities are attracting IT companies to invest in the city, known as financial capital of the state.
"These days, five big companies including the likes of Infosys and TCS are investing crores in the IT Special Economic Zones (SEZ)," Madhya Pradesh SEZ Development Commissioner A K Rathore said.
He added that six years after notification as an SEZ in 2006, work has commenced recently at the Crystal IT Park.
A senior official in the Union Commerce Ministry said Crystal IT Park is the first SEZ in the IT sector in which production was commenced for exports. Madhya Pradesh Audyogik Kendra Vikas Nigam (MPAKVN) was given the responsibility of developing the SEZ.
"Impetus has recently begun exporting from the Crystal IT Park. Apart from Imptus, companies like Cleartrail and Intellicus have been given approval for investment," the official said.
Rathore said companies are increasingly looking at investing in Indore as, "There are a large number of engineering colleges from where thousands of talented engineers graduate every year. Apart from that, the air and rail connectivity to the city has improved significantly."
Meanwhile, the state government is also rolling out the red carpet to IT companies and is working towards developing Indore as the new IT destination.
Officials said Infosys has been given 52.64 hectare (130 acre land), while TCS has been given 40.47 hectare (100 acre) on the Super Corridor by the state government.
They said the two IT giants were given the land to develop SEZs at Rs 20 lakh per acre and added that Ruchi Realty Holdings, Impetus and Agroweb Online are also working on similar SEZ projects.