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AP sees 41 percent growth in IT exports
By siliconindia
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Saturday, 07 June 2008, 18:24 IST
Chennai: Andhra Pradesh recorded a 41 percent growth in IT exports during the financial year ended March 31, 2008, at Rs 26,122 crore, as compared with Rs 18,582 crore last year. It contributes 15 percent to the national exports of Rs 1,77,700 crore. The growth registered by the state is against the projected national average growth rate of 32 percent, according to E Manoj Kumar, outgoing director of Software Technology Parks of India (STPI), Hyderabad.
Addressing media-persons here recently, he said growth in tier-II cities was also steadily catching up with Visakhapatnam emerging as the next destination in the state. "Total exports from Visakhapatnam stood at Rs 372 crore from 80 units including HSBC, Satyam and Wipro during the year, while Vijayawada, Tirupati and Kakinada contributed Rs 56 crore, Rs 2 crore and Rs 6 crore respectively," he said.
Apart from employment generation with an addition of 51,550 jobs, the state also witnessed a robust growth in terms of new entrants, with around 4 new companies registering themselves every week for setting up shop. In all, 176 new companies were registered, of which around 40 are foreign equity companies. IT investments from foreign companies stood at Rs 654 crore, while domestic players accounted for the rest.
Kumar said STPI was focusing on initiating specific measures for supporting SME companies.
