HYDERABAD: Chief Minister Y. S. Rajasekhara Reddy on Wednesday said IT exports of the order of $ 4.5 billion were expected to be achieved this year and invited business leaders, including CEOs of IT/semiconductor companies from San Francisco to invest in the State.

Speaking at the Indus Entrepreneurs (TIE) luncheon meeting at Santa Clara and a roundtable with CEOs/ semiconductor companies at San Francisco in the United States, he told them that opportunities existed for out-locating their businesses in information technology, pharmaceuticals, biotechnology, agro-processing, mineral-based industries, engineering, hi-tech manufacturing, textiles, leather goods, tourism, gems and jewellery.

Digital State

Stating that Andhra Pradesh was heading to become a digitally-driven State with the establishment of semiconductor manufacturing at FAB city, he said that his Government was offering substantial incentives to the investing companies in the IT sector.

Providing a "glimpse" of the performance in the IT services, software and BPO sectors, he said revenue of $ 3 billion in exports were achieved in 2005-06, registering a 51 per cent growth rate as against the national average of 36 per cent.

Dr. Reddy said that semiconductor consumption in India was only $ 3 billion and expected to touch $ 45 billion by 2015. `We hope to build a $ 10 to $ 12 billion manufacturing base in the entire food chain of semi-conductors", he added.

Mentioning the e-Government initiatives, he said the e-procurement project had transactions more than $ 9 billion , while e-Seva was recording 4 million transactions per month.

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