The State government on Thursday released the IT & GCC Policy 4.0 (information technology & global capability centres), aiming to develop Visakhapatnam as a global information technology destination. Attracting top IT companies to set up campuses and innovation hubs with state-of-the-art facilities and reliable high-speed internet by providing subsidies and simplifying regulatory processes is one of the key objectives of the policy.
“To make Visakhapatnam an attractive destination for IT professionals, the government has set a target of enhancing the quality of life by improving housing, healthcare and recreational facilities. Along with large clusters in Visakhapatnam, the government is eyeing youth from all over the State, tapping into the new-age trend of working from anywhere and grasping global opportunities. This is not just limited to the IT/ITeS sector but also various desk jobs that are witnessing a steady transformation through the use of emerging tech and AI,” said Information Technology, Electronics & Communications (ITE&C) secretary N. Yuvaraj.
Furthermore, the government aims to work with local educational institutions to tailor their curricula to the needs of the industry, ensuring a steady supply of job-ready graduates. Continuous skilling and reskilling programmes are being implemented to keep the local workforce competitive, he added.
“The long-term objective of the forward-looking policy is to encourage and enable Fortune 500 computer software and information companies to set up their base in Andhra Pradesh. The IT sector has emerged as a global powerhouse. In FY 2023, the IT sector contributed 7.5 per cent to India’s GDP. Braving global economic challenges, the Indian IT industry is on track to achieve a revenue of $350 billion by 2030. The sector currently employs over 5 million people, and this workforce is expected to double by the end of this decade. India has witnessed a huge growth in the creation of GCCs, with the numbers increasing by 1,700 by the end of 2024, generating export earnings of $64.6 billion and employing 1.9 million people,” Mr. Yuvaraj said.
“Since IT is a major employment provider and contributes enormously to economic development, the Andhra Pradesh government under the leadership of Chief Minister N. Chandrababu Naidu has crafted this policy to attract every investor and job creator. We hope that this policy will give a boost to the IT and ITeS sectors in the State,” N. Yuvaraj told The Hindu.
AP Digital Technology Industry Leadership Forum convener Sreedhar Kosaraju said that the new IT policy will pave the way for unprecedented growth and innovation in the IT sector, making Andhra Pradesh a preferred destination for technology and digital enterprises.
“However, we have sought clarity on some issues like incentives for companies to expand operations. Guidelines should explain how existing companies can benefit by expanding their footprint. Also, a phased resolution of pending incentives will instill confidence and accelerate the adoption of the new policy,” Mr. Sreedhar opined.
Published – December 13, 2024 05:01 am IST
