AP Govt Set To Create Rs 1,000 Million IT Innovation Fund In Next Two Months

BTQU84446AM722014While addressing an ICT meeting along with state IT minister Palle Raghunatha Reddy, Sanjay Jaju, secretary, IT, electronics and communications department in the Andhra Pradesh government recently revealed that state will see the creation of a new IT innovation fund soon. The Rs 1,000 million worth fund is expected to be set up by the AP government in the next 60 days, said Jaju.

“We will be bringing out 17 proactive policies with a missionary approach besides drawing a road map to create infrastructure and ecosystem through IT investment regions (ITIRs), mega IT hubs and electronics manufacturing clusters (EMCs) within two months from now,” Jaju was quoted as saying. The state government is also looking to prioritise incentives for MSMEs and startups under its new IT policy. The policy is likely to provide a preferential market access for software and electronics products while encouraging single-window clearances, Jaju said. 

Meanwhile, Guntur and Anantapur will see the creation of IT hubs, while an ITIR and an EMC will be set up by the stte government in Visakhapatnam. Furthermore, one EMC will also be created in Tirupati. “Our mission is to get the top-10 big names in the IT and electronics to invest in Andhra Pradesh and bring IT majors to fill up incubation space with a targeted growth of 30 per cent in the next one year,” Jaju added.

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