Business Daily from THE HINDU group of publications
Saturday, May 31, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, May 31, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Exports & Imports States - Andhra Pradesh Web Extras - Software STPI Hyderabad exports rise 41%
The State saw investments of Rs 2,100 crore, including Rs 654 crore from foreign companies. Andhra Pradesh now is fourth after Karnataka, Maharashtra and Tamil Nadu when it comes to overall exports. Our Bureau Hyderabad, May 30 Software Technology Parks of India, Hyderabad (STPI-H) has registered a 41 per cent growth in IT exports during 2007-08 to reach Rs 26,122 crore, up from Rs 18,582 crore last fiscal. While projecting a growth of 40 per cent for the year 2008-09, STPI said that the sector added over 50,000 new jobs through direct employment and possibly another 3-4 times more indirectly, witnessing investment of Rs 2,100 crore, including Rs 654 crore from foreign companies. Addressing a press conference here today, the STPI-Hyderabad Director, Mr E. Manoj Kumar, said that the sector performance was significant given the backdrop of concerns of slowdown, lower IT spend and pressure on rupee. Growth projectionThe State now employs about 2,39,000 people and the 40 per cent growth projected is likely to create at least 40 per cent more jobs during 2008-09. Trends point that Tier-II centres of Vizag, Kakinada, Warangal and Tirupati, which have begun to see fresh investments, were contributing to IT export growth. The State is adding about 3-4 companies a week. While more than 155 companies have expanded their existing facilities, many new companies have set up base here. These include Honeywell Technology, Hyundai Autonet, Avaya, Media Mandi, SAP Labs, Polycom among others. Of the Rs 1,77,700 crore total exports from the country, Hyderabad and Andhra Pradesh account for 15 per cent and plan to step this up significantly. Andhra Pradesh now is fourth after Karnataka, Maharashtra and Tamil Nadu when it comes to overall exports, he said. The Principal Secretary, IT&C, Government of Andhra Pradesh, Mr S.K. Joshi, said that the State has initiated several efforts to sustain the current pace of growth which includes strengthening the human resources supply by providing training and finishing school services. To this, the State is adding three more IIITs during the year, which will further add to the manpower resources base. Asked about shortage of land for IT companies, Mr Joshi said steps have been initiated to identify new areas and wherever possible companies are being encouraged to expand into Tier II cities.
Mr Manoj Kumar, who served STPI for last seven years, today announced he is moving over to a new assignment in the corporate sector. In his place, Mr Venugopal, now Director of STPI Noida, will assume office. More Stories on : Exports & Imports | Andhra Pradesh | Software
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