Andhra Pradesh government investment in IT sector by 2020

Andhra Pradesh government targets Rs 12,000 cr investment in IT sector by 2020

Andhra Pradesh government aims to attract investment of Rs 12,000 crore in the Information Technology sector and that of Rs 30,000 crore in the electronics sector by 2020, which is expected to generate five lakh jobs. 

The government also aims to create "at least one IT literate per family" besides an IT entrepreneur, according to the IT and Communications Minister Palle Raghunatha Reddy. 

Chief Minister N Chandrababu Naidu released "a blue print" for IT, electronics and e-governance here today. 

Explaining its salient features to reporters later, the IT minister said three missions, one each on IT and electronics, e-governance and innovative capacity building, would be created with a budget of Rs 1,785 crore to achieve the objectives. 

An advisory council of experts would be set up for each mission. 

"Climate for IT sector is very encouraging in the state. Companies are ready to invest in the state but are awaiting the new IT policy. The Chief Minister reviewed it here today and the new policy is expected to be discussed and approved at the next meeting of the Cabinet," Reddy said. 

While Visakhapatnam would be the main hub for IT development, Kakinada, Vijayawada, Tirupati and Anantapuram would also see growth in the sector. 

An IT incubation centre would be opened in Visakhapatnam by October, the minister said. 

Wipro BSE -1.23 % has already readied it's expansion plans in Visakhapatnam to create additional employment for 7,000 youths.