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Our Bureau

Hyderabad, Sept. 12 The State Information Technology and Communication Minister, Mr R. Damodar Reddy, today hinted at the possibility of investment of about Rs 6,000 crore from Dubai and Ras Al Khaimah.

Addressing a press conference here on Wednesday after a trade delegation visit to Dubai, Mr Reddy, without going into specific projects, said that these investments would be in the areas of IT, telecom and hardware.

Ras Al Kahiamah is host to over 3,500 companies, of which 41 per cent are companies with Indian origin. He said Ras al Khaimah Free Trade Zone was interested in offering total business solutions, and offered incubator facilities to Indian companies and expressed interest in collaborating with the Andhra Pradesh Government.

Mr Reddy said the Gitex Hyderabad held every year in January will not be held in January 2008 and instead an IT summit will be held in March. He said that during interaction with the Dubai World Trade Centre (DWTC), the latter requested the State Government to continue collaboration.

The delegation also visited Emaar Properties ventures and prospective investors at Gitex Dubai Computer Shopper and invited them to invest in Andhra Pradesh, assuring them of necessary support.

The trade delegation led by the State ITC Minister included representatives from Electronics and Software Export Promotion Council (ESC) and Hyderabad Software Exporters Association. The Minister inaugurated the ESC-India Pavilion at Gitex Dubai Technology Week Exhibition. Gitex Dubai Technology is the largest exhibition hosted in West Asia and has over 3,000 participants in IT, ITES, hardware and communications sectors. Some of the Indian companies – HCL, L&T, Tally, Satyam were among the participants.

More Stories on : Foreign Direct Investment | Foreign Trade | Andhra Pradesh

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