GUNTUR: Chief Minister N Chandrababu Naidu has said that after promoting IT industry in the united State of Andhra Pradesh in a big way by setting up Hi-Tech City and Cyberabad, he is now focusing on a similar exercise in Amaravati. The government is promoting knowledge economy to create employment to youth, he said. Inaugurating INVECAS and Veda IIT firms at Guntur on Friday, he said more companies would establish their offices in the coming days. He said the government is according necessary permissions without delay for establishing new companies to register growth in the State.
He said the import of semiconductors is not required in the future as INVECAS will develop them in the State. Business worth $400 billion is being done within and outside the country but only half the required products are available. Therefore, the government is encouraging INVECAS to register growth in this sector, he said. The CM said that the two electronics companies would be established in Amaravati by investing Rs 1,100 crore. The government had allotted 300 acres and 500 acres to INVECAS and Veda IIT respectively.
He said 230 IT companies have started functioning in the State by investing Rs10,000 crore, creating 42,000 jobs. Naidu said, “The government is aiming to generate two lakh jobs in the IT sector by inviting more companies to set up their units in the State. Further, the government is focusing on promoting the electronics sector in every major city. The government has already started implementing welfare schemes through Real-Time Governance (RTG) to promote accountability and transparency.”
Minister for IT and Panchayat Raj N Lokesh made a presentation on IT and electronics development in the State. He said the government is aiming to provide land for setting up of companies and providing all necessary permissions within 21 days to new companies. The government will create two lakh jobs in the electronics sector in Amaravati by 2022. Thanks to the steps taken for the establishment of IT companies, 57,000 youths have got jobs in the State after bifurcation, he added.
He said the government is encouraging companies in the electronics sector to set shop in the State, so 20 of the total 100 phone-manufacturing companies that were established in the country are in the State.
INVECAS and VEDA Society chairman and co-founder Dasaradha Gude said, “Our motto is to increase job opportunities in India.”
Acknowledging the support of AP CM Chandrababu Naidu and Nara Lokesh, he said the Indian semi-conductor industry is expected to achieve an annual turnover of $52.6 billion, registering a growth rate of 30 per cent. Assembly Speaker Kodela Siva Prasada Rao, ministers P Pulla Rao, N Anand Babu, Zilla Parishad chairperson Sk Johnymoon, AP Women’s Commission Chairperson N Rajakumari, MLAs M Venugopala Reddy, A Rajendra Prasad, Y Srinivasa Rao, Collector K Sasidhar, Joint Collector Md Imtiaz and others participated.