'IT Dept identifies 6 growth segments to achieve $100 bn growth by 2030'

CHENNAI: State Information Technology Minister Mano Thangaraj on Wednesday informed the State Assembly that the department has identified six growth segments and chalked out a plan to achieve a $100 billion growth target for taking the State’s economy to $one trillion by 2030.

Replying to the debate on the demand for grants for his department in the State Assembly, Thangaraj said the size of the IT economy of Tamil Nadu is $ 20 billion and the CAGR (Compounded Annual Growth Rate) was growing at 10% per annum.

“If it grows at this rate, only $47 billion can be achieved by 2030. For the IT sector in the state to grow to $100 billion by 2030 and bridge the $53 billion gap, the CAGR should grow at 19.6 per cent, ” the minister told the House.

“IT department has chalked out plans to achieve the $100 billion target before 2030 by factoring in the need and climate for expeditious growth. The target can be achieved by working with technology partners to expand IT and ITES, taking IT companies to tier II and III cities, developing globally competitive human resources and expanding the global market base, ” the minister said, adding that the department has identified six growth segments and their targets in association with IT Advisory Council. The daring plan would help generate 25 lakh high-income jobs by 2030 and growth would help fulfill the jobs requirements of the State youth and include the development of tier II and III cities in the State.

Pointing out that about 45% of the global GCCs (Global Capability Centres) are in India, but only 9% of them generating $9 billion are in TN, the IT minister predicted that Chennai would emerge as the next major GCC zone once numero uno Bengaluru saturates. He also added that the ministry has planned to constitute a committee to assist firms in setting shop in TN and developed the State capital into a GCC zone. Thangaraj also said the government would explore the establishment of an accelerator center to promote SaaS (Software as a Service) market and develop 10,000 SaaS entrepreneurs in the State.

Announcements:

1) An Integrated IT Signature Complex spread across 2.6 lakh sqft would be developed at a cost of Rs 150 crore in the land belonging to Tamil Virtual Academy at Kottupuram in the city.

TNeGA has planned to add an additional 100 e-services at its e-seva centers.

2) IT department would be renamed as Information Technology and Digital Services department to strength IT, ITES and digital services growth.

The digital cultural Atlas of TN would be prepared at a cost of Rs 1 crore.

3)A new policy would be prepared for developing IT and Business Process Management firms in the State.

4) A plug and play facility measuring 30,000 sqft and 27,461sqft would be developed for IT/ITeS and start ups at a cost of Rs 6 crore and Rs 6.86 crore at ELCOSEZ in Gangaikondan (Tirunelveli) and Vishwanathapuram in Hosur, respectively.