AP best suited for IT investments: Reddy

Andhra Pradesh chief minister Y S Rajasekhara Reddy on Monday asserted that his government had created the best infrastructure for growth of the IT industry in AP.

Addressing an industry meet here organised by APinvest, a nodal agency to promote investments in AP, Reddy claimed that Hyderabad had turned into a hot destination for IT investments as all infrastructure issues had been tackled effectively.

"The state is certainly looking up. IT industry captains have informed me that the decision-making process of the AP government is faster compared to other states. Our response to IT investments will always be positive," he added.

Reddy said Hyderabad was emerging as the most preferred destination for investments in various sectors. "AP has recorded a 65 per cent growth in IT and ITES sectors last year. Our objective is to increase the growth rate to the maximum by offering an environment conducive for investments," he stated.

IT industry sources have noted two developments that have tilted the IT industry popularity balance between Hyderabad and Bangalore in favour of the former. Infosys signed an MoU with the AP government to set up a large software development centre in Hyderabad and earlier the city bagged the Fabcity project.

Though Reddy did not make any direct comparison between AP and  Karnataka, he contended that AP had a positive frame of mind. "We welcome all kinds of investments in the IT sector. We definitely have an open mind," he said.

Apinvest CEO C S Rao also refused to be drawn into the exercise of comparing Bangalore with Hyderabad. "The two cities are not competing with each other. We consider ourselves as partners in progress. Both of us want to have a share in the larger pie," he stated.