L&T Signs Pact With Gujarat Govt To Setup IT-Ites Park In Va...| MENAFN.COM

Sunday, 14 August 2022 04:35 GMT

L&T Signs Pact With Gujarat Govt To Setup IT-Ites Park In Vadodara

(MENAFN- KNN India) L&T signs pact with Gujarat govt to setup IT-ITeS Park in Vadodara

Gandhinagar, Aug 4 (KNN) Larsen and Toubro (L&T) on Wednesday signed an agreement with Gujarat government to invest a sum of Rs 7,000 crore to set up an IT and IT-enabled Services (ITeS) Park in Vadodara.

The MoU was signed by L&T's CEO and managing director S N Subrahmanyan and secretary, department of science and technology, Vijay Nehra in presence of chief minister Bhupendra Patel.

L&T under the agreement has proposed the creation of 10,000 direct and indirect employment opportunities in the coming five years.

With the intention to harness potential opportunities in the information technology sector, the Gujarat government in February this year had launched the Gujarat IT/ITES Policy 2022-27.

The state government on Wednesday announced that that within six months of announcing the policy, investments of Rs 2,400 crore have already been signed by 13 leading IT companies. As many as 13,750 jobs have been proposed already under these MoUs.

The state government has envisioned creation of one lakh job opportunities over the next five years in the sector.

Minister of science and technology, Jitu Vaghani said the policy focuses on both skill development and employment generation in the IT sector. He added that incentives and innovations like employment generation incentive (EGI) and capex-opex model are unique in the Indian IT investment promotion policy landscape.

Chief Principal Secretary K Kailashnathan, chief secretary Pankaj Kumar, additional chief secretary, industries Raj Kumar, additional chief secretary to the CM, Pankaj Kumar, and others were present for the MoU signing ceremony. (KNN Bureau)


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