Andhra plans IT investment region to attract Rs 2.19 lakh cr

The Andhra Pradesh government will develop an Information Technology Investment Region over 50,000 acres of land around Hyderabad with an aim to attract a whopping investment of Rs 2.19 lakh crore and to create nearly 15 lakh direct jobs.

The massive 25-year plan is aimed at attracting an investment of Rs 2.19 lakh crore in the IT &ITeS sector and create direct employment for 15 lakh youths, state IT Minister Komatireddy Venkat Reddy told reporters here after a high-level review meeting with Chief Minister K Rosaiah in the Secretariat today.

The minister said the ITIR would create 53 lakh indirect employment as well.

"The Chief Minister has approved the ITIR plan today and we will soon be sending it to the Government of India for sanctioning. Andhra Pradesh will be the first state in the country to have an ITIR," Venkat Reddy said.

The ITIR would come up around Gachibowli, Mamidipalli and Maheshwaram areas.

"The ITIR will enable us to step up our IT exports to Rs 2.35 lakh crore in the next 25 years," the Minister added. The state government would also like to develop a similar ITIR at Visakhapatnam. "We will plan it after the Hyderabad ITIR gets sanctioned by the Center," Venkat Reddy said.