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AP will become NO.1 IT hub:CM

Written by: Staff

Hyderabad, Apr 26 (UNI) Asserting that the his Government was determined to transform Andhra Pradesh into a prime investment destination and the fastest growing economy in the country, Chief Minister Y S Rajasekhara Reddy today commended the IT sector's efforts in retaining the state in the top position with a software exports growth rate of 51 per cent.

''Soon, we will overtake Bangalore and other places in the country to become No.1 IT'', Dr Reddy hoped during a review meeting with officials, according to an official release.

The Government had set a target of Rs 69,000 crore IT exports and jobs for three lakh IT professionals by 2009, he said adding in terms of investment his Government had attracted Rs 4,341 crore in its first year and Rs 7,363 crore in its second year, compared to just Rs 3,533 crore during the TDP regime in seven years.

While Karnataka and Maharasthra registered a growth rate of only 34 per cent in software exports, Tamil Nadu recorded 29 per cent against 51 per growth achieved by Andhra Pradesh, by stepping up software exports from Rs 8270 crore in 2004-05 to Rs 12,500 crore in 2005-06.

In terms of absolute figures in IT exports, the state continued to be in the fourth position after Karnataka (Rs 37,500 crore), Maharashtra (Rs 15,500 crore) and Tamil Nadu (Rs 13,960 crore).

He said the state had the potential to become a global sourcing centre for continuing growth in all sectors and services pertaining to human resources.


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