Hyderabad: Andhra Chief Minister YSR Reddy is out to give Bangalore a run for its money. Despite big boys like Wipro, Infosys and GE expanding into Hyderabad, Reddy is determined to impress further.
Bangalore's infrastructure woes are forcing business leaders like Premji and Narayana Murthy to look elsewhere. And if the Andhra CM has his way, Hyderabad is on its way to becoming investment destination No 1.
Rajshekar Reddy was in Delhi making a sales pitch to industry leaders and good infrastructure was his big-ticket offering.
According to government figures, Andhra Pradesh offers the lowest industrial power tariff anywhere in the country.
For new industries the tariff is Rs 2.95 per unit for the first five years, for food processing industry it is a subsidy of 50 paise per unit and for regular industry it is Rs 3.56 per unit.
The state government is also offering a single window clearance, an extensive transportation network that will include a new international airport, along with various seaports and a talented manpower pool. No surprise, then, that in 2005 alone, Infosys and IBM recruited 2000 graduates from Andhra.
These measures seem to have paid dividends as companies like Satyam, TCS, Wipro and GE India are looking at expanding in areas like Vizag and Hyderabad.
Rajshekar Reddy is not letting the farmer suicides and the drought sideline his plans for making Andhra Pradesh the top investment destination in India.
With the growth rate of the state touching 51 per cent and Andhra attracting investments to the tune of Rs 7,363 crore last year, it is just a matter of time before Rajshekhar Reddy can fulfill his long standing dream of beating Bangalore at its own game.
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