Vizag to be developed as $100 billion economy city

Visakhapatnam: A better IT policy will soon be introduced and Andhra Pradesh is set to draw prestigious companies, said Minister for HRD, IT and Electronics Nara Lokesh.

In an interactive programme with the AP IT Association representatives, the minister said that in line with this, a study is carried out to adopt best practices followed in Hyderabad, Bengaluru and Chennai as they were successful in the sector.

Discussions are on with top 10 IT companies and soon the AP people to hear good news, announced Lokesh. “IT would be developed rapidly with the collaboration of robotics, healthcare and education sectors. In the next five years, Visakhapatnam would be developed as a $100 billion economy city as part of the Naidu 4.0 version,” he stated.

For the past five years, the IT sector has badly been impacted and the incentives which were pending would be cleared. Next, through the green channel, incentives will be provided, Lokesh informed.

Further, in the coming days, 90 per cent of the companies related to the IT sector would be set up in Visakhapatnam. IT experts from Telugu states who were settled in various countries would be brought back to AP, Lokesh said.

Innovation, incubation and communication will be developed as part of the IT sector. Women entrepreneurs will be encouraged in the sector, the Minister informed.