Andhra Pradesh expects Rs 42,000 crore investments in IT, electronics sector

Vijayawada: The Andhra Pradesh government is expecting investments worth Rs 42,000 crore in Information Technology and electronics industries over the next 5 years, state IT minister Palle Raghunatha Reddy said on Sunday.

The government has prepared a policy to create AP an IT and electronics industry hub in the country, Reddy told reporters here.

The state government expects Rs 12,000 crore investments in IT and Rs 30,000 crore in electronics industry, he said.

During the next five years, the expected employment generation from these two sectors would be about nine lakhs, he said.

Already, Wipro, Tech Mahindra and some other IT industries have agreed to establish their units in the state, the minister said.

Cities like Visakhapatnam, Kakinada, Tirupati and Anantapur in the state will be favourable places for both the sectors, he said, adding that the government has initiated steps to provide clearances for IT and electronic industries under a single-window system.