Hyderabad, August'08:Andhra Pradesh is continuing to showcase a multifaceted dimension in diversified sectors and enabling the state to grow rapidly and position as one of the most attractive investment destinations in India. IT sector like the previous years is on the top of all, making the steady strides towards a well defined growth vehicle of the State’s economic and social growth model. The year 2007-08 is seen a consistent growth of IT sector in the state.

Performance of STPI, Hyderabad units during the period 01-04-2007 to 31-03-2008:

 Software Technology Parks Of India, STPI is the corner stone of the IT sector in India which is started in 1991 with the objective of providing a conducive environment and services for the growth of the IT sector in India. STPI, Hyderabad started its operations in 1991 and facilitating the IT industry all these years and enabled the industry to grow significantly in the recent years.

As many as 176 new IT units are added this year as STP units. The growth is stable as in the previous year as we can see that there are 3 to 4 additions every week on the average. The major companies viz., M/s HONEYWELL TECHNOLOGY SOLUTIONS LAB PVT LTD, HYUNDAI AUTONET INDIA ENGINEERING PVT LTD, COLRUYT IT CONSULTANCY INDIA PVT LTD, MEDIA MANDI INTERNATIONAL PVT LTD, AVAYA INDIA PRIVATE LIMITED, SAP LABS INDIA PVT LTD, RHYTHM AND HUES STUDIOS INDIA PVT LTD, POLYCOM TECHNOLOGY (R&D) CENTER PVT. LTD,  OAKTON GLOBAL TECHNOLOGY SERVICES CENTRE (INDIA)PVT LTD, TATA ELXSI LTD etc  started their operations in Hyderabad during this year.  Also 155 existing Companies are expanded their activities indicating the consistent growth.  40 foreign companies are added during the year in addition to 136 Indian companies.

Investments:  The projected investments are Rs.2100 crores by the newly registered units, which includes Rs.654 crores from foreign companies, Rs.1446 crores from Indian companies.

Software Exports:

 Andhra Pradesh has recorded steady growth rate of exports achieving 41% growth over last year’s exports, against the projected national average growth rate of 32%.  Once again the state has proved as a major IT growth center in the country. The exports of the IT industry from the State for the year 2007-08 is Rs.26122 crores, compared to the last year’s exports of Rs.18582 crores.  The growth in Tier II cities is also steadily catching up. Visakhapatnam  is emerged as the next destination in the state with recording a growth of 52%. With majors like M/s HSBC growing steadily and M/s Satyam  recently started its major operations Vizag is all set to become a major destination in the state for IT sector. Also many more companies are in the process of setting up their campuses and expanding in Vizag. The other cities Vijayawada, Tirupati, Warangal and Kakinada is also contributing to the growth of the sector in the state.  This year employment generated is significantly grown by adding 51550 jobs.  

Future Road Map for the IT Industry’s Growth:

 With the IT sector growing steadily, it is not only enabling the economy to grow but also creating lot of employment potential both direct and indirect services. In order to ensure that the growth continue in the future years, multi pronged steps in the areas of adding right talent, creating better infrastructure, expanding to multiple locations in Tier II & III cities and also create more opportunities for business is evolved continuously. Added to this, all stake holders are working together towards achieving further growth in the coming years. STPI continue to contribute to these initiatives. With the success of incubation model in Kakinada, STPI is in the process of adding similar initiatives in other locations also, with the support from the state Government. Focus on specific measures particularly for supporting the SME companies is initiated. STPI is also identifying new markets for growth to further enhance the exports by the units.
 

Reachout's News Bureau
-Aug' 2008

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