HomeIndustry NewsPart IT incentives to be released in August: IT Minister

Part IT incentives to be released in August: IT Minister

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Making a significant announcement, AP’s minister for Industry, Commerce, Infrastructure and IT, Mr Gudivada Amarnath said that the government shall soon release the long pending incentives due to the IT industry.

As per estimates there is a total of Rs 72 crores incentives to be given to IT companies which have been due for well over 3 years.

‘We understand that this is an issue concerning our IT sector hence our chief minister has asked us to get this resolved. I am happy to tell you that one third(1/3) of this amount shall be released next month’ said the IT minister addressing a gathering of VCCI (Vizagapatam Chamber of commerce and Industry) members in the city recently.

He stated that the IT incentives will be disbursed along with the Rs 500 crores that will be released to the MSME sector next month.

Identifying the IT sector as one of the key drivers of growth the minister highlighted Vizag to be an ideal destination for IT with its picturesque sights and sounds having huge untapped potential. ‘We are looking to take forward the concept of Beach IT and make this a reality’ said Mr Amarnath.

Earlier Mr Sudhakar Pantula Vice President of ITAAP gave a representation to the IT minister highlighting some of the key demands of the sector.

Some of the those demands included release of incentives, Skill training and development and PMA i.e. Preferential market access.

‘PMA is key for the growth of the regional IT sector and we want this implemented both in letter and spirit’ said Mr Sudhakar giving his representation.

Mr Pantula further urged the minister to brand IT in the state and also include captains of industry from the IT sector when participating in roads shows and events taking place both abroad and domestic.

Along with the IT industry many other associations from different sectors highlighted their issues to the minister and solicited his support in getting them resolved.

Taking note of the various issues the minister promised to look into them and assured them of full government support.

The minister also informed that Infosys is slated to come to the city of destiny as early as next month.

VCCI president Mr Satish along with Secretary Mr Rolland Williams and committee member Mr Pawan Gunturu thanked the minister for taking out time to attend the interactive session.

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