India’s Tech Parks Get a Growth Spurt: Industrialists Push for a Digital Leap

Image Source: ET Manufacturing

The industrial leaders of India and state governments are teaming up to promote the swift expansion of IT parks as drivers of economic growth, employment generation, and competitiveness on the global stage. Recent announcements by various states reflect a concerted countrywide effort to improve digital infrastructure and draw huge investments, marking the beginning of a new era for India's technology-led economy.

Large Investments and New IT Park Projects

Odisha's Mega IT Park Initiative

Odisha government announced a 1,000-hectare IT park across Bhubaneswar and Cuttack.
The project includes a "Plug and Play" built-up area with pre-fitted office spaces to reduce setup delays for technology companies.
Aimed at luring startups, mid-level companies, and international IT players, the park will aid the state in becoming a hub for a digital economy.

Hyderabad's Expansion with CapitaLand

Telangana government entered into an MoU with Singapore-headquartered CapitaLand Group to set up a new 10 lakh sq ft IT park in Hyderabad for an investment of ₹450 crore.
The IT park will host blue-chip companies and global capability centers, enhancing the image of Hyderabad as a technology hub further.
CapitaLand's 25 MW IT load data center at Hyderabad also expects to come online by mid-2025.
Furthermore, two new IT parks are also proposed for Hyderabad's outskirts, with a concentration on world-class infrastructure and efficient connectivity.

Coimbatore's ₹1,100 Crore IT Park

Tamil Nadu announced a ₹1,100 crore IT park in Coimbatore, which will increase the city's contribution of IT exports from 25% to 40%.
The two-phase facility, spanning 20 lakh sq ft, is a part of an overall thrust of new industrial complexes and knowledge centers.

Madhya Pradesh's Tech Growth Conclave

Indore will host the Tech Growth Conclave-2025, with the inauguration of new blocks of IT parks and the launching of AI-based centers of excellence.

The conclave will witness MoUs for new centers and allotments of plots in IT parks to 12 firms with a view to converting investment commitments into effective projects.

Strategic Vision and Industrialist Support

Industrialists and business chambers have appreciated these efforts, underlining the contribution of government-initiated IT parks in offering vital infrastructure, like roads and water supply, which are usually difficult for private developers to provide promptly.

The coupling of IT parks with green urban planning is viewed as essential for reducing ecological footprint and improving the quality of life for residents and employees.

Expected Impact

Employment Generation: The new IT parks and industrial corridors are estimated to create millions of direct and indirect employment opportunities, boosting urban and rural economies.
Boost to Exports: Increased IT infrastructure is likely to raise India's IT export contribution substantially, particularly in emerging tech cities such as Coimbatore and Hyderabad.
Global Competitiveness: By providing cutting-edge infrastructure and easy connectivity, the parks hope to lure foreign direct investment (FDI) and international technology companies, integrating India further into the global digital economy.

Challenges and Considerations

Although the announcements have been received with optimism, industrialists have also urged further measures such as power tariff cuts and curbs on raw material prices to increase competitiveness even further.
Making sure of sustainable growth and learning from past experiences with Special Economic Zones (SEZs) are crucial for long-term success.

Sources: Economic Times, Times of India:, Ommcom News, The Hans India, Times of India, NareshIT