Easy land allotment in the bifurcated A.P will lure global IT majors: Chandrababu Naidu
After the bifurcation of the state and formation of Telangana, the Andhra Pradesh Chief Minister N Chandrababu Naidu has decided to give a boost to the state after division as now the revenues are divided between Telangana and Andhra Pradesh. Hence the C.M has sent letters to the chief executives of IT, BPO and electronics majors in the US and other Western countries, inviting them to invest in the State.
The CM’s officials have written to the Microsoft Chief Executive Officer Satya Nadella last month, asking him to set up their delivery center in Andhra Pradesh. The letter indicates the opportunities available in the new State and the benefits companies will get when they set shops here.
However the revenues were mostly generated from the state capital Hyderabad and other cities contributed very little from those segments. The combined State generated revenues of ₹64,354 crore last year (mostly from Hyderabad), the share of other cities in present AP was only ₹1,629 crore.
The State, which will get special incentives as part of the Bifurcation Act, will come out with an industrial policy to lure the MNCs. IT Minister Palle Raghunatha Reddy mentioned that they have a proposal of a mega IT hub on 3,000 acres and land allotment will be smooth to the IT and ITES players who wish to set up their operations there.
The state government has plans to set up an Incubation Centre for Entrepreneurs (ICE) to encourage start-ups in the new State. Entrepreneur Satish Andra will establish a start-up village on the lines of the one at Kochi with the Rs.100-crore planned fund.
Source- The Hindu Business Line
Andhra Pradesh Chief Minister N Chandrababu Naidu, Easy land allotment, formation of Telangana, ICE, Incubation Centre for Entrepreneurs, IT Minister Palle Raghunatha Reddy, Microsoft Chief Executive Officer Satya Nadella, property in Hyderabad, Property in Kochi
