In a boost to the fledgling IT industry in Visakhapatnam, 17 new IT and ITes companies were today inaugurated by AP IT Minister N Lokesh Naidu. Cumulatively, these companies are expected to generate an employment of 10,170 and an investment of INR 558.70 crores. Lokesh Naidu said it again asserts the diverse investment opportunities that Andhra Pradesh provides to different types of companies ranging from startups to multinationals.
He said the Government of Andhra Pradesh (GoAP) recognizes the need to develop an IT/ITES ecosystem, and policies offer tailored incentive packages to companies ranging from MSMEs to Mega projects showcases the State’s commitment to nurture enterprises of all categories. The AP Government is establishing a1400 acre IT mega park in Kapulapada on the outskirts of the Visakhapatnam in four phases. The IT park is located on a small hill where 5 lakh IT professionals can live and work as it will have all amenities like housing, schools etc. Lokesh Naidu inspected the progress of work at the IT park and said it is shaping up as scheduled.
Today morning the IT minister inaugurated Cerium Systems Pvt. Ltd., Conduent Business Services India Pvt. Ltd., CES Ltd., Inspire Edge IT Solutions Pvt. Ltd., Sahasramaaya Technologies Inc., Valenta KPO accounting Pvt. Ltd., Belfrics Cryptex Pvt. Ltd., Sweya Information Technologies LLP, Vivilex Technologies Pvt. Ltd., Inn Data Analytics Pvt. Ltd., Insoteam Consulting services Pvt. Ltd., Nueve Solutions LLC, HR Square Staffing Solutions, Envoy Mortgage, Hippocampus, and Patra India BPO Services Pvt. Ltd. They all began their operations today.