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'Bengal could attract Rs.10 bn IT investment in 18 months'

West Bengal,Business/Economy, Mon, 30 Apr 2012 IANS

Kolkata, April 30 (IANS) West Bengal could attract around Rs.10 billion investment in the Information Technology (IT) sector in the next one-and-half years, Computer Association of Eastern India said Monday.


"Definitely, there will be substantial investments coming to West Bengal. I think the level of investment could be around Rs.800 crore to Rs.1,000 crore in the next 18 months in the IT sector," association president B Hari said here.


The association is a grouping of IT entrepreneurs of Eastern India and works to create and sustain an environment conducive to the growth of IT industry.


Hari said the growth of Information and Communication Technology (ICT) business in eastern India this year was expected to grow at a rate of 15 percent.


"In the 2011, the growth of ICT business was 12 to 15 percent in eastern India on an overall basis," he said.


Stating that the overall Indian IT spend for 2012 was expected to reach about Rs.1,000 billion, he said about eight to nine percent of that would come from the eastern region.


Meanwhile, Computer Association of Eastern India will organise "COMPASS", one of the largest IT fairs in the country, from May 4 in Kolkata. About 90 participants are expected to take part in the 15th edition of the four-day-long fair.


"We expect a lot of partners to come. General public will be able to see the latest technology. Almost all the foreign brands are coming here," Hari said.


He expects that the total Business-to-Business (B to B) and Business-to-Consumer (B to C) trade in this year's fair would be about Rs.8 billion.


"Last year, Rs.500 crore (Rs.5 billion) B-to-B trade took place," he added.


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