Offshore financial centre mooted

HYDERABAD, OCT 30: With N Chandrababu Naidu firmly back in the chief minister8217;s seat, the Confederation of Indian Industry CII has initiated a series of moves directed at the creation and marketing of the AP Inc brand, apart from taking measures to improve the product itself.

At the end of the fifth meeting of the CII-AP joint task force which is chaired jointly by chief minister N Chandrababu Naidu and CII president Rahul Bajaj on Thursday, several new initiatives emerged which should see the state coming into its own in the coming months.

Significantly, Hyderabad finds a place alongside Mumbai as the possible location of an offshore financial district, an idea mooted by the CII, Rahul Bajaj said after the meeting. quot;CII will study the consequences of such a move and the ideal location for a such a centre,quot; he said. Though Mumbai has a headstart over Hyderabad, you have a chief minister here who can make it possible. Apart from this, the law and order is better here, Bajaj said.