Chandrababu Naidu inaugurates eight IT companies in Tirupati

Andhra Pradesh Chief Minister N. Chandrababu Naidu and state IT minister and his son Nara Lokesh on Saturday inaugurated eight IT companies in Tirupati.

Zoho Corporation, AGS Health, Exafluence, Naestech, YIIT, ANS, Ingenies, and Parikar, are the companies which the two leaders inaugurated.

Addressing on the occasion, the chief minister said Tirupati was a favourable destination for the growth of information and technology sector and IT hubs would also be developed in Visakhapatnam, Amaravati, Tirupati, and Anantapur.

He also said that IT towers would be built in every district across the state.

"Visakhapatnam to Anantapur will be developed as Andhra Valley for future entrepreneurs. Today, you are talking about silicon valley, in future it will be Andhra valley," Naidu said.

"The state would train one crore IT literates by spending Rs. 250 crores," he added.

Zoho will provide employment to 5,000 people in the next three years with an investment of Rs. 300 crores.

Headquartered in the U.S., the company has over 6,000 employees spread across eight countries and over 30 million users utilise Zoho products for their businesses.

Moreover, the other seven companies which have begun operations today, aim to provide 1,080 jobs in the next one year and about 1,800 jobs in the next two years.

According to Nara Lokesh, Andhra Pradesh was rolling out red carpet to IT companies coming forward to invest in the state. He believes that they have been able to create about 24 thousand IT jobs in the last three and a half years.

"We are bringing in several new policies to develop IT in the state. We are also encouraging latest technologies like fintech (financial technology), blockchain, crypto currencies and data analytics in a big way. Our aim is to create one lakh jobs in IT and two lakh jobs in electronics by 2019," Nara Lokesh said.