"When the IIT will be fully operational, it will provide employment to about 1,25,000 people. Apart from that, there will be a multiplier effect," Sharma told IANS in an interaction.
The IIT is a technology-driven futuristic world class smart city which is under various stages of construction. Internal development work at the IIT site will be completed and it will be ready for sale by August 2018.
Spread over 747 acres, the IIT is an early bird project in the Dadri-Noida-Ghaziabad Investment region, a key node of the DMIC being developed close to Delhi-NCR. It is one of the eight industrial zones being developed in Phase I of the DMIC project.
In its first phase, the DMIC proposes seven investment regions, two airports, three logistical hubs, two mass rapid transport systems and a solar power plant, besides a string of other large-scale infrastructure projects.
Besides the IIT in Greater Noida, three other smart cities -- Dholera in Gujarat, Aurangabad Industrial City (AURIC) in Maharashtra and Vikram Udyogpuri in Madhya Pradesh -- have sailed past the approval and planning stages and are now having the trunk infrastructure laid out.
"Total phase I of the cities is targeted by 2025. But by 2019, in these four cities, our phase I work will be completed," Sharma said.
"The work in Haryana project will take off in the beginning of next year. Apart from that, we have a second project in Maharashtra which will also start by next year," added Sharma.
Talking about investment, Sharma said: "Till now the projects that have been sanctioned by the Government of India and where construction is under progress, the investment has been around Rs 13,000 crore."
"We have got around 18,000-19,000 acres of land in these cities from the state governments. As and when we get additional land, we will also accrue additional investments," he added.
A 38-member trade delegation from Taiwan -- comprising government representatives and top executives of a diverse range of companies -- visited the IIT site and held discussions with the DMIC officials seeking to explore investment opportunities and commercial tie-ups with the project.
"The DMIC project is being executed largely in the PPP mode and offers enormous opportunities for investments and tie-ups for companies from both India and abroad. We are keen to fast-track the project and would hugely welcome proposals for collaborations and investments from Taiwan," said Sharma.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.