Under the visionary leadership of Chief Minister Shri N. Chandrababu Naidu and the proactive initiatives of Minister for IT, Electronics & Communications Shri Nara Lokesh, the State Investment Promotion Board (SIPB) met today and officially cleared 10 major IT and futuristic technology projects.
The approved projects entail a total investment of ₹526.25 crores and are projected to create 8,896 high-quality jobs across the state. This landmark decision marks a significant step in establishing Andhra Pradesh as a premier global hub for Information Technology, Artificial Intelligence (AI), and Quantum Computing, with strategic developments centered in Visakhapatnam, Amaravati, and Kadapa.
Key Highlights of the SIPB Approvals:
1. Visakhapatnam Growth: Gained major momentum with top-tier global firms receiving green signals to establish massive operations and training centers.
2. Global Giants & Innovators: Major global brands like Deloitte and Muthoot Fincorp are expanding their footprints in Visakhapatnam with high-capacity seating operations.
3. Amaravati as a Quantum Capital: The capital region is set to become a pioneering national hub for Quantum Computing, Photonics, and AI-driven Biotechnology.
Major Project Highlights Across Districts
1. Visakhapatnam (IT & AI Expansion)
– Muthoot Fincorp Limited (MFL): Approved for an investment of ₹100 crores to establish an “Integrated Hub for AI & Tech Training Center,” creating employment for 2,400 people.
– Deloitte: Received approval for an investment of ₹43.75 crores to set up a state-of-the-art operations center with a capacity of 2,500 seats.
2. Kadapa (Electronics & Manufacturing)
– AIL Dixon Technologies Pvt Ltd: Approved for a policy incentive timeline extension under the AP Electronics Policy 2021-24 for its ₹70 crore manufacturing unit, supporting 300 jobs.
3. Amaravati (Emerging Quantum & Deep Tech Hub)
– Amaravati is officially positioned to lead India’s deep-tech revolution with multiple pioneering quantum and biotech initiatives:
– Srsti Quantum Pvt Ltd: Investing ₹2,700 crores (Note: broader strategic tech layout integrated) to set up a Quantum Computing Hardware, Nanofabrication Research, and Manufacturing facility, creating 3,000 jobs.
– Quantum Codon Pvt Ltd: Investing ₹167 crores to establish an Integrated Quantum AI-Driven Biotechnology Innovation Campus for drug discovery research, creating 126 jobs.
– Arohak Technologies Pvt Ltd: Investing ₹62 crores to set up a Photonics Quantum Research & Innovation Center, generating 300 jobs.
– TriQuanta Labs Pvt Ltd: Investing ₹35 crores to set up a Quantum Innovation Center alongside India’s first hybrid quantum computing hardware manufacturing unit, providing 175 jobs.
– Photoncore Systems Pvt Ltd: Investing ₹9 crores to set up a manufacturing center for ‘PhotonQ’ room-temperature photonic quantum computing systems, creating 45 jobs.
– Veridata Health Inc.: Investing ₹4.5 crores to establish a global engineering hub for the world’s first regulatory-grade, quantum-enabled clinical operating system, generating 50 jobs.