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Andhra Pradesh State Government aiming Rs.70,000 crores in exports
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Andhra Pradesh State Government aiming Rs.70,000 crores in exports
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Andhra Pradesh State Government aiming Rs.70,000 crores in exports

CM inaugurates works at Nanakarmguda IT/ITES SEZ

The Chief Minister, K Rosaiah on Tuesday said that the State Government is aiming at achieving a turnover of Rs.70,000 crore in exports in informational technology and creating on additional 1.25 lakh jobs by 2015. Commissioning the first phase of city's new landmark, 'WaveRock' and launching its second phase at the IT/ITES SEZ at Nanakarmguda, the Chief Minister pointed out that creation of physical infrastructure of international standards was a pre-requisite for the ICT industry to operate in a most optimal manner. Stating that the average growth rate of IT sector in the State was always higher than the national growth rate, Rosaiah said the State Government had taken all initiatives to provide comforts to the ICT industry through creation of 'plug and play' and 'walk to work' kind of office environment.

The ICT export turnover gone up from Rs.284 crore in 1999 to Rs.,32,500 in 2009 recording an increase of 110 times. One of the world's leading developers of the first class real estate, Tishman Speyer, USA, in partnership with ICICI Ventures is developing WaveRock project on an area of 12 acres to provide IT space of 2.46 million sq.feet and generate nearly 25,000 IT jobs. The first phase, having 10 floors and built with an investment of Rs.600 crores, would provide employment to 7,000 professionals.

Jerry Speyer, Chairman and Co-CEO, Tishman Speyer said WaveRock was his company's first building to have been completed in Asia and declared that Tishman Speyer would make major investments in the city. Sanjeev Dasgupta, president, ICICI Ventures said that ICICI Ventures had so far invested Rs.1,500 crore since 2004 in various projects in the State. Rakesh Sharma, MD and country head-India, Tishman Speyer India Pvt Ltd., and Ratna Prabha, Principal Secretary (IT) spoke on the occasion.

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