AP earns Rs 18,582 crore through IT exports: Minister

Hyderabad, May 29 (UNI) Andhra Pradesh has earned Rs 18,582 crore by exporting IT-related products during 2006-07 compared to last year's export revenue of Rs 12,521 crore, IT Minister Damodar Reddy said today.

Addressing a press conference here, he said the state had recorded a steady growth in exports, up 48 per cent compared to last year, even as the projected national average growth stood at 33 per cent.

Stating that Andhra Pradesh occupied fourth position in IT exports after Karnataka, Maharashtra and Tamil Nadu, Mr Reddy said the state government had targeted an IT exports of Rs 25,000 crore for next year.

Announcing that the government had decided to set up SEZs for Small and Medium Enterprises (SMEs), he said Visakhapatnam emerged as the next destination in the state, recording a growth of more than 100 per cent over previous year's exports.

He said two additional IT Parks would be built during this year to meet the growing infrastructure requirements of the industry in the state.

The total projected investments in the IT sector were Rs 1900 crore, out of which Rs 603 crore would be from foreign companies, Rs 626 crore from Indian companies and Rs 671 crore from IT parks.

The government aims to generate employment for two lakh during next year in IT sector in the state.

The IT Department had devoted considerable attention on expanding SMEs, which had great potential to generate more employment opportunities in the state.

UNI