Amaravati, the new capital of Andhra Pradesh has bagged its first-ever Information Technology firm giving a major boost to investments in the People’s capital. The first software company to set up its office in Amaravati is PI Data. The IT company has received formal consent from the Andhra Pradesh Government. The firm has been allocated10 acres of land near Mangalgiri in APIIC lands on a lease basis. Every year, the company has to pay Rupees 1 Crore as rent every year for this land and lease agreement is valid for 33 years.
PI Data has to construct its own building and develop infrastructure. The IT firm is ready to dole out Rupees 600 crores for the project. It is expected to give employment directly to 300 people and indirectly 2000 people in the first phase. The high authorities of PI Data have confirmed the news.
In the meantime, more IT firms are in the pipeline to set their shops in the People’s capital, Amaravati. There is a huge hype surrounding Amaravati from the time CM Chandrababu Naidu announced as the new capital of Andhra Pradesh. As Amaravati will be built according to the Singapore plan with the aid of Japanese technology, Andhra Pradesh is going all out to woo the investors and is aiming to be an industry-friendly state. The industrial policy announced by Andhra Pradesh has received applause from the IT industry. It appears good days are ahead for the IT company in Amaravati. It should be recalled that Chandrababu Naidu was the pioneer in transforming Hyderabad an IT hub.