Indore (Madhya Pradesh): On the road to becoming a major information technology (IT) hub of the country, Indore achieved great success in exports of software during the Covid-19 pandemic period. During the financial year 2020-’21 and 2021-’22, IT exports from the city recorded a 52% jump.
The financial capital of the state is progressing rapidly in the direction of becoming a major IT hub as a result of the resources, facilities and conducive environment provided by the state government to encourage investment in the field of IT. This pace of development was not hampered even by the adverse effects of the lockdown during the corona period.
Dwarkesh Saraf, general manager, Madhya Pradesh Electronics Development Corporation (MPEDC) said the city had taken a big leap in development during the lockdown with massive employment growth from 10,000 IT/ITeS professionals in the city to 40,500. The city has achieved many milestones on its journey to becoming ‘Atmanirbhar Bharat’ and ‘Atmanirbhar Madhya Pradesh’.
To make the city the birthplace of many big start-ups, the Simhasa IT Park has been built on the lines of a start-up hub. Almost all the land of this IT Park has been allotted to IT companies. Soon, this west zone of the city will emerge as a big IT hub.
IT exports from 4 SEZ units of the city registered a growth of 51% and made IT exports worth Rs 1,161 crore year-on-year (YoY) in the financial year 2020-’21. For the period of the financial year 2021-’22, a growth of 51.64% was registered in IT exports worth Rs 1,761 crore.
During the financial year 2020-’21, IT exports from non-SEZ units registered with the Software Technology Parks of India (STPI) had stood at Rs 873.17 crore. Interestingly, capital investment of more than Rs 800 crore by IT-ITeS companies was made in the city in the past two financial years. IT-ITeS companies have been given an incentive of Rs 7.62 crore in the financial year 2021-’22 and Rs 11.58 crore in the financial year 2020-’21 despite the lockdown. A total incentive of about Rs 40 crore has been given since April 2014. This helped them bridge capital issues during the lockdown.
At the Simhasa IT Park, out of the 120 acres of land, 100 acres have already been allotted to IT companies. Many domestic and international companies are keen to be a part of the growth story of Madhya Pradesh. Soon, many multinational companies will open shop in the city. Supply of electricity at cheaper rates and an abundance of skilled youths are attracting companies to the city. This is a golden opportunity for Tier-2 cities like Indore to become a hub of IT-ITeS companies in central India.
