New Delhi, Apr 3: The Cabinet Committee on Economic Affairs (CCEA) today gave its approval to the proposal to create Information Technology Investment Regions (ITIRs).

These ITIRs would be endowed with excellent infrastructure and supported through investor-friendly policies.

ITIRs were conceptualized keeping in view the need to boost the growth of both IT/ITES and Electronic Hardware Manufacturing (EHM) units.

These regions would become major magnets for investment creating employment opportunities and economic growth in the area.

Simultaneously, it will reduce the pressure on existing urban centers by enabling growth of new townships and dispersal of industry.

The regions would be a combination of IT/ITES and electronics hardware manufacturing units; public uitilities, residential area, social infrastructure and administrative services.

Such regions could include new integrated townships, SEZs and industrial parks.

In the ITIR, there would be a clear delineation between the IT/ITES areas and electronic hardware manufacturing areas. The ITIRs would generate direct and indirect employment during the construction and operational phases.

Each ITIR is expected to be a specifically notified investment region with minimum area of 40 sq kms planned for IT/ITES and EHM units.

The minimum processing area will be 40 per cent of the total area of the ITIR. The ITIRs will be developed in a phased manner.

The State Government would ensure that all physical infrastructure and utilities within its jurisdiction (power, water, roads, transportation, sewerage and effluent treatment facilities) are provided.

The Central Government will facilitate development of national highways, airport and rail links to the ITIRs.

The Public-Private Partnership (PPP) route is advocated for the development of ITIRs. The State Government will select the developers/co-developers through a transparent process. (ANI)