AP software industry to be biggest beneficiary of Clinton visit

HYDERABAD, MAR 20: When US President Bill Clinton visits Cyber Towers', the new icon of IT-savvy Andhra Pradesh, the event will signify m...

HYDERABAD, MAR 20: When US President Bill Clinton visits Cyber Towers’, the new icon of IT-savvy Andhra Pradesh, the event will signify more than mere symbolism and atmospherics: It will be a defining moment for the flourishing software industry in the state.

The reasons for optimism and excitement are not far to seek. From a mere Rs two lakh export earnings in 1991-92, the city has come a long way as its software exports are set to cross Rs 2,000 crore mark this year.

The number of software companies registered with STPI, Hyderabad, have grown phenomenally from a mere seven in 1991-92 to 158 in 1998-99. The figure is likely to cross 200 this year, said Chowdary, who is also an advisor to the Central government on promotion of software industry.

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That Clinton has chosen to spend a major chunk of his five-hour schedule in the city among IT professionals and leaders of the knowledge industry reflects the growing international recognition for the state’s cyber initiatives, experts say.

Accounting for a lion’s share of exports, the software industry achieved an export turnover of nearly Rs 600 crore last year, registering over 100 per cent compared to previous year.

The total exports to US from the state, excluding the fast growing software industry, stood at Rs 770 crore in 1998-99. Significantly, over 65 per cent of the state’s software exports were headed for US.

There are about 50 industrial units under various stages of implementation in the state with American collaboration under FDI (Foreign Direct Investment) category.

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"We expect that Clinton’s trip will help unleash full potential of the state particularly in IT industry. More joint ventures and collaborations will follow," Chowdary, who is now president and managing director of Portalplayer Private Ltd, said.

Standing as the most enduring symbol of software industry’s growth is Hi-Tec’ (Hyderabad Information Technology and Engineering Consultancy) city project, christened as Cyber Towers’, aimed at providing world class infrastructure for IT industries.

The visiting US President would witness a special exhibition on knowledge society’ being organised by CII and the state state government at hi-tec city. He would also address a gathering of IT professionals and captains of Indian Industry.