The Andhra Pradesh government is all set to promote an Information Technology Investment Region (ITIR) in an extent of 50,000 acres spread over 202 sq km around the state capital Hyderabad.

The ITIR will have an investment potential of Rs 2,19,440 crore over a period of 25 years and direct revenues of Rs 3,10,849 crore, according to state Minister for Information Technology and Communications Ponnala Lakshmaiah.

The ITIR, while creating 15 lakh jobs directly and 53 lakh jobs indirectly, would result in IT exports from the state to the tune of Rs 2.35 lakh crore and increase the tax revenue to the state by Rs 30,170 crore, the IT Minister said today in a letter to Union Communications and IT Minister Kapil Sibal.

"The ITIR will be set up covering agglomerations like Cyberabad, Mamidipalli, Maheshwaram, Uppal and Pocharam that are connected through the Hyderabad Growth Corridor. The state government has already submitted a detailed project report to the Centre. Clarifications to the observations made by Union Ministries of Urban Development, Environment and Forests, Commerce and Industry related to ITIR have also been submitted in October," Ponnala informed Sibal and requested the latter to personally intervene and accord approval for the ambitious project at the earliest.

The Minister said IT sector in Andhra Pradesh was making rapid strides with the share of exports touching 15 per cent.