Larsen & Toubro plans to set up an IT Park and IT SEZ in Bengaluru for a combined investment of ₹2,080 crore.
The conglomerate, which is engaged in technology, engineering, construction, manufacturing and financial services, has over $16 billion in revenues.
L&T’s application to set up an IT park and IT SEZ in Yelahanka near the international airport came up before the Karnataka State High Level Clearance Committee (SHLCC) for clearance on Friday.
According to RV Deshpande, Karnataka Minister for Industries, the company’s application is for setting up an IT Park at an investment of ₹800 crore, creating 9,100 jobs, and an IT SEZ for ₹1,280 crore. The SEZ will create 9,800 jobs.
Earlier, Deshpande told reporters that the State government is holding a ‘Make in India-Karnataka’ conference on February 13-14 to showcase the State’s capabilities. About 55 global companies are expected to take part in it.
“Make in India started long back in Karnataka with Bosch establishing its manufacturing facility in Bengaluru in 1953. The manufacturing industry in the State has also come a long way and has upgraded to hi-tech manufacturing. This includes new areas of nano technology, robotics, 3D printing, space, satellite, drone, rocket and aircraft technologies as well as high-end electronics,” he added.
The event, supported by CII, is expected to bring together industrialists, CEOs and policy makers from different countries.
Deshpande said the two-day event will have 10 sessions, one on ‘Make in India’ followed by nine focus sector sessions. The meet is expected to deliberate on sectoral issues, Karnataka’s action plan and how the State can sustain its competitive advantage.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.