Emboldened by an impressive growth in software exports, Andhra Pradesh Chief Minister Y S Rajasekhar Reddy on April 27 said the state had the potential to overtake Bangalore and other places and emerge as the leading it hub in the country.

Noting that AP had registered 51 per cent growth rate in software exports during 2005-06, the highest in the country, Reddy said his government had set a target of Rs. 69,000 crore IT exports and three lakh jobs for IT professionals by 2009.

Reviewing status of IT sector at a high-level meeting with officials, the Chief Minister said his government was determined to transform Andhra into prime investment destination and the fastest growing economy in the country.

Congratulating the IT industry and the officials for the stellar performance, he said the software exports from the state during 2005-06 had gone up to Rs. 12,500 crore from Rs. 8,270 crore during 2004-05.

In terms of absolute figures, the state continued to be in the fourth position in the country, after Karnataka (Rs.37,500 crore), Maharashtra (Rs.15,500 crore) and Tamil Nadu (Rs.13,960 crore).

Karnataka and Maharashtra registered a growth rate of 34 per cent, Tamil Nadu recorded 29 per cent while AP achieved 51 per cent growth rate.

The initiatives taken by the state government in promoting software industry through its new IT policy, announced last year, had started reaping rich profits, the chief minister said.

"It is just a beginning. We have miles to go ahead. With several top IT giants preparing to expand their network in the state, there is going to be a real boom in IT sector making AP a very crucial IT hub in the years to come," Reddy said.

( www.financialexpress.com)