Invest in Andhra Pradesh, it is safe: Minister

February 4th, 2011 - 7:53 pm ICT by IANS  

Bangalore, Feb 4 (IANS) An Andhra Pradesh team Friday invited investment to the state assuring that it was “safe, secure and profitable” for investors in spite of the campaign for a Telengana state.”Andhra Pradesh is safe, secure and profitable,” IT and Communications Minister Ponnala Lakshmaiah said at a roadshow ahead of the two-day IT event Advantage AP-2011, to be organised by Software Technology Parks of India and Andhra Pradesh government March 1-2 in Hyderabad.

The IT investors need not have any worry as political developments in the state had not affected industrial or business climate, he said.

Lakshmaiah said that in 2010 Hyderabad added 4.2 million sq ft space for the IT sector. This was more than half of the over eight million sq ft space created in the previous five years, he said.

The state continued to attract investment in the IT sector. The state government’s aim was to take the IT exports to Rs.70,000 crore from the present Rs.33,000 crore in the next five years.

Bangalore and Hyderabad, capitals of the two states, have been competing in the new economy sector.

While Bangalore emerged as the India’s IT hub, Hyderabad was hailed as ‘Cyberabad’ as it remained in the race to be the number one tech centre of the country.

IT exports from Karnataka between April-Dec 2010 stood at Rs.75,000 crore, according to Karnataka cabinet spokesperson and Higher Education Minister V.S. Acharya.

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