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KKR Clears Files Related To Rs.25,000 Cr Investment In A Single Day

Posted by on February 24, 2011 0 Comment

Hyderabad: The Chief Minister, Mr N Kiran Kumar Reddy said that clearing of files related to Rs.25,000 Crore investments into the State on a single day by him was a best answer to the misconception that investments were going back due to the situation prevailing in the State.

The Chief Minister formally launched curtain raiser of “Advantage AP”, an IT mega annual event to be held on March 1 and 2 at Hyderabad International Convention Centre (HICC) in the city.

Speaking on the occasion, Mr Kiran Kumar Reddy said that yesterday, he has signed the files permitting 30 new units, the total investment of which would be Rs 25,000 crores. The investments came to the State were Rs 45,000 crores in the last five years. Citing this, he felt that there was no need to react to the news that the investors were going back from putting their money in the State. The Government, few days back, signed an MOU with a company for setting up of nuclear equipment manufacturing unit in the state that would bring Rs.2,900 crores of investment to the State, he added.

He assured that the State Government would extend support to the IT industries to sail on the path of development and expansion operations. “You are talking about allocations for IT in the budget. It want budget from the IT”, he added.

Referring to the large number of IT companies located in the state, the Chief Minister opined that the presence of companies particularly IT would give inspiration to the students in education. The good career opportunities before them would lead the students in right direction in the education, he added.

The IT Minister, Mr Ponnla Lakshmaiah said that the Chief Minister had intension and vision for development of IT sector in the State. He pointed out there was 70 percent hike in the allocations for IT in the budget 2011-12. The Government would also focus on Hardware sector and come out with a suitable plan to encourage the hardware production companies. The highest number of engineering colleges in the state would also be helpful and advantageous to the IT firms.

The Principal Secretary of IT, Mrs Ratna Prabha informed that the objective of the conference was to promote Andhra Pradesh as the most preferred IT destination, promote Tier II cities as IT hubs and promote SME industry in the State. The Conference would bring together a galaxy of national and international visionaries, experts from top organizations, ICT companies showcasing cutting edge technologies, major investors, infrastructure developers, policy makers to interact and network, she added. About 1,000 delegates already registered their names for the event. It was expected that over 200 IT companies would setup stalls in the exhibition at the conference, she maintained.

The STPI Director, Mr Venugopal and heads of various IT companies were also participated in the event of launching of curtain raiser of Advantage AP (NSS)

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