Only 7 out of 17 IT agreements signed during Tamil Nadu GIM 2015 have taken off.

It has been five years now, and only 7 of the 17 MoUs (MOUs) signed by the Department of Information and Technology during the first edition of the Global Investors Meet (GIM) 2015 have been completely re-organized and launched.

Conflict of data from the Electronics Corporation of Tamil Nadu Limited (ELCOT) through the Right to Information Act (RTI) shows that five projects are still under construction and in various stages of implementation. A firm called WS Industries India Limited had signed an agreement with the state government for the construction of an IT park involving an investment of ₹ 1,517 crore, but now there is no details about that MoU.

The four projects of GIM 2015 were included with Hewlett Packard India Private Limited, Intel Technology India Private Limited, Sutherland Global Services Limited and ASV Constructions Private Limited. But ASV Constructions had signed another agreement with the state government during the second edition of GIM to be held in 2019.

In terms of investment, only 42.4% came. To date, against the signed commitment of 950 10,950 crores, till date, the MoU signed in the IT sector has managed to bring in 89 8989 crores, providing employment to 372.333 people. In 2015, during the GIM event, the government stated that more than 2 lakh people would be included in the sector over a period of three years.

Data on the deals signed in 2019 during the second edition of GIM shows that two projects – Bayline Infocity Limited (formerly ETA Technopark Limited) and Trejo Digital Services have commenced operations, five are under construction, while two The firms have bought land. Another firm is still in the process of identifying the land. Another firm, Netlink Infocom Sdn Bhd, is in the process of starting the activity. Against a commitment of 74 11,974 crores through 11 deals, investments of 2,056.5 crores have come so far.

“Some of these deals with COVID-19 may now take longer to turn into reality. With people working from home, the demand for the IT space has diminished – so the investment will be done cautiously.