Ahead of the Global Investors’ Summit (GIS) scheduled to be held in Visakhapatnam on March 3 and 4, Chief Minister Y.S. Jagan Mohan Reddy has said that Andhra Pradesh’s Information Technology policy is futuristic, with provisions for employment incentives, power tariffs and transport subsidies, work-from-home incentives, quality certification, and startup ecosystem development.
“Andhra Pradesh is the fastest growing State in the country with a 11.43% growth rate, which is the highest in the country so far. Consistently for three years, Andhra Pradesh has been ranked Number 1 in the Ease-of-Doing Business, which speaks volumes about how proactive we are,” Mr. Jagan Mohan Reddy said in a press release here on February 26 (Sunday).
He said Andhra Pradesh was known for offering top-notch infrastructure, which facilitates development of a thriving IT industry. “It holds the distinction of being the first State in southern India to implement robust energy conservation programmes, providing round-the-clock quality power to industries, and having the lowest HT industrial tariffs across the nation. The State is a well-known knowledge hub in India, with premier institutes such as IIT, IISER, IIIT, and IIM, as well as over 18 State-sponsored universities and 346 engineering / MCA colleges,” he added.
‘Significant strides’
“The State is making significant strides in developing its IT industry, with plans to create three IT Concept Cities in Visakhapatnam, Tirupati, and Anantapur. These cities have been selected for their existing technology presence, availability of human capital, and proximity to user sectors. The goal is to attract both domestic and global IT / ITeS firms across various sectors such as healthcare, education, travel, insurance, and banking. To achieve this, the concept cities will offer speedy execution and cost reductions for the industry,” the Chief Minister said.
Quick approvals would reduce the time needed to start operations, and there would be seamless connectivity to airports and highways. The availability of skilled manpower would be ensured, and world-class IT-driven common and social infrastructure would be provided, along with plug-and-play IT office and co-working spaces, he said.
“The State also boasts a cost structure trend that is 20-25% lower operating cost, with a 5% average difference in challenger and aspirant cities,” the release said.
