Visakhapatnam: The new IT policy will create the framework for attracting Investments in New Technologies, CII Andhra Pradesh chapter chairman Datla Tirupathi Raju said here on Saturday.
As a part of Policy consultations with the Industry, CII had suggested to the Government to cut down complexity for the industry in moving from the initial planning phase to operationalization phase by bringing various reforms in land allotment, incentives approval, provision of infrastructure, permissions for commencement of operations and processing of incentive claims. In fact, the new policy had given adequate thrust on infrastructure, development, approval reforms with focus on Concept Cities, he observed.
Tirupathi Raju who is also the Executive Chairman of Vijaynagar Biotech Pvt ltd, said that establishment of IT Technologies Research University would build up the required ecosystem for the Industry 4.0 technologies and create new opportunities for youth. The new Policy had given ample scope for the IT industry for having partnership with Universities to promote niche and emerging technologies such as cloud, block chain, IOT, cyber security and data analytics etc in the coming days, he added.
The Comprehensive Investment Portal to handle all project applications and permissions would help the companies to invest in the state, he felt. The new policy also gave scope for work from home which is fast emerging as a trend in IT sector which would be a major boost for Andhra Pradesh youth.
The policy offered end-to-end support for startups like plug and play office space, access to investors, mentors, talent pool, funds through venture capitals, private equity firms and other commonly shared services on a variable chargeable basis which was greatly welcomed by Industry. Mr Tirupathi Raju observed, adding that the new policy would encourage more startups in the state. While referring to the disbursement of incentives to industry, he said that the Policy has fixed the time frame of six months to the eligible enterprises from the date of issue of the sanction order.
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