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IT industry seeks venture funding in Gujarat

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Vinay Umarji Mumbai/ Ahmedabad

Has also sought testing laboratory

With financing through bank loans getting tougher day-by-day, the IT industry in Gujarat has sought for venture funding from the state government. Having met for the first time with the state government, the industry has also sought the former's help in setting up a software and hardware testing laboratory in Gujarat.

The meeting was one of the first such ones between the industry and state government representatives from the Department of Science and Technology (DST) as well as Gujarat Informatics Limited (GIL).

"We had met the state government representatives that are concerned with the IT industry to share our views and requests. We have made certain proposals to the state government. For instance, since getting bank loans is becoming tougher and the IT industry still not being that large in Gujarat, we have sought some kind of venture funding from the state government. Moreover, there is also a need for a software and hardware testing laboratory that can be explored," said Jaimin Shah, president of Gujarat Electronics and Software Industries Association (GESIA), members of which had met the government official.

 

While the meeting saw a positive response from the state government, the proposals made by the industry are most likely to be incorporated into the draft being prepared for the upcoming new IT policy.

"We had met and discussed the needs of the industry. The proposals were made keeping in mind the draft being prepared for the new IT policy. However, the final policy will only decide what kind of benefits will be available for the industry," said Ravi Saxena, additional chief secretary, Department of Science and Technology, Government of Gujarat.

Apparently, the current IT policy, that was announced in November 2006, is nearing its completion. By November 2011, when the existing IT policy completes its tenure, the state government intends to announce a revised policy. A draft for the same will be prepared soon.

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First Published: May 10 2011 | 12:31 AM IST

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