The Hindu : Andhra Pradesh / Hyderabad News : Software companies asked to establish facilities in Tier II cities

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Sunday, Sep 10, 2006
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Software companies asked to establish facilities in Tier II cities

Staff Reporter

Chief Minister promises all infrastructure facilities for them

HYDERABAD: Chief Minister Y.S. Rajasekhara Reddy on Saturday urged software companies to consider setting up facilities in Tier II cities of the State, promising them that the Government would put in place all the available infrastructure.

He was speaking after inaugurating "The Capital", Polaris Software Lab's exclusive super-speciality technology centre for investment banking, with two lakh square feet of office space on eight acres of land in Manikonda Information Technology (IT) Park. Minister for IT Sabita Indra Reddy was present.

Dr. Reddy said IT and IT-enabled services development had to be spread and taken around to Tier II cities too. For example, it would be logistically ideal for Polaris if it considered another facility at Tirupati, 150 km away from Chennai, where it had its headquarters, he said.

Favoured destination

Continuing to showcase Hyderabad and Andhra Pradesh as a favoured destination for IT and ITES companies, he said the sector was booming with the State attracting three companies a week because of the infrastructure available. "We will help companies grow for when you do, it has a cascading effect on the staff and the indirect employment it creates," he said. Polaris Chairman & CEO Arun Jain said that with seven of the world's top 10 banks as clients they were working to quadruple revenues in three to five years.

Executive Vice-President and Head-Investment Banking Solutions Kedarnath Udiyavar said super-specialisation was the need of the hour.

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