Jammu and Kashmir government on Friday created state run Information Technology Infrastructure Development Company (ITIDC), a private limited company, to develop and raise IT parks and related infrastructure in the state.
“Sanction has been accorded to the incorporation of a company named ‘Jammu and Kashmir IT Infrastructure Development Company Private Limited,” read a government order.
The decision for creation of ITIDC was taken in reference to State Administrative Council decision number 34/3/2019 dated January 25, 2019 under section 7 read with Section 2 (68) of the Companies Act, 2013 as per the Memorandum of Association (MoA) and Articles of Association (AoA), duly vetted by the law department appended as annexure ‘A’ and ‘B’ respectively, having initial share capital of Rs 50 lakh with permission to raise debt upto Rs 200 crore, read the order.
The company has been tasked to develop and raise information technology (IT) parks/cities and related infrastructure in the state of Jammu and Kashmir, to accommodate investors pursuing IT and related activities including Information Technology Enabled Services (ITES)/ Information and Communication Technology (ICT) by providing them space in the above IT Parks.
It will also engage IT consultants for rendering IT services to the government as well as to the private sector and to assist the company in realising its other objectives. To collaborate with leading IT Companies to enhance its activities in this field on IT related activities.
To carry on the business of IT related consultancy and advise in developing, implementing and operating technology projects and rendering technical services and assistance for the expansion programme. To undertake research and development in the field of IT and to establish, provide, maintain and operate workshops, projects and programmes.
The company will also do any other activity or activities related to IT whether infrastructure, or otherwise.
It will also facilitate specialised training and awareness programmes to promote entrepreneurship through incubation, seed funds, IP development and promote quality and security standards in the IT Industry and to assist the government in formulating IT policies and liaison for promoting the IT Industry to achieve an exponential growth in the IT sector.