Plans to put Vijayawada on IT map
Vijayawada, February 1, 2006An Information Technology Special Economic Zone named 'IT Tower' will come up near Gannavaram between Vijayawada and Eluru on an extent of 30.6 acres of land. The project taken up as part of the plan to develop second IT hubs in cities such as Vijayawada, Visakhapatnam, Warangal, Kakinada, Guntur, Nellore ad Tirupati will prove employment to nearly 40,000 IT professionals.
Speaking to media, the Minister for Information, Mohd Ali Shabbir said Vijayawada had emerged the most preferred IT centre next to Hyderabad and Visakhapatnam. Notable among them are exemption of customs duty and central excise on import of capital goods, cent percent income tax exemption for five years and to the tune of fifty percent for the next two years and no cap on foreign direct investment.
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