IT investments in Tamil Nadu down by 12% to ₹39,831 crore

For the first time in five years, total investment by IT/ITeS companies in Tamil Nadu, including investments in the special economic zones run by Elcot (a State government undertaking), declined year-on-year during 2018-19.

IT companies invested ₹39,831 crore in 2018-19 (estimate) as against ₹45,506 crore in 2017-18, a drop of nearly 12 per cent, the Information Technology Department’s Policy Note for 2019-20 revealed. The data has been attributed to Software Technology Parks of India and the Ministry of Commerce. The Policy Note said that Electronics Corporation of Tamil Nadu (Elcot) was successful in bringing investments of ₹11,974 crore in the IT/ITeS sector during the Global Investors Meet held in January. No reason was attributed for the decline in investments in 2018-19.