The news is true. IT major Infosys has agreed to invest ₹ 100 crores to set up a faculty in the state. The news has been recently confirmed by West Bengal Chief Minister Mamata Banerjee.

This project is the second attempt by the IT honcho to invest in Bengal, the earlier being put on hold, in spite of possessing the land, for the demand of acquiring Special Economic Zone (SEZ) status.

As per reported by the State CM from state Secretariat Nabanna, “Infosys will be coming to the state without the SEZ status”.

Previously, the IT honcho has paid ₹ 75 crores in 2011-12 for 50 acres of land in the satellite township of Rajarhat. Infosys that time has sought for the SEZ status, which the State Government had refused to give. In spite of the interference by the then IT Minister Partha Chatterjee, the deadlock couldn’t be resolved, compelling Infosys to leave the state.

This time, indications are given of a solution that can be sorted if proposals similar to ‘SEZ-like tax benefits’ would be provided.

In lieu to the previous investments, Infosys executive co-chairman S Gopalakrishnan stated that “There are no plans to give up land at this point”.

A formal announcement on the benefits is expected after the Cabinet Approval. Infosys has also produced a written letter to the State IT Department, expressing the wish to continue working here, ensuring the employment of at least 1,000 people at their campus.

If this project gets clicked then this will be the second big-ticket IT venture in Bengal. Wipro is the first, which had acquired 50 acres of land in Rajarhat and had also sought SEZ status.

Lastly, Arnab Basu, IT committee chairman of the Bengal Chamber of Commerce and Industry, regarded that, “For Bengal, it will be a big boost. First, Infosys is a big brand. It will attract many small IT firms to the state in the future and create jobs…. Second, real estate in the state would get a boost. These commercial projects will spur the development of residential projects in and around Rajarhat and improve occupancy levels”.