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Investments in IT Sector Decline in Andhra Pradesh

Investments in IT Sector Decline in Andhra Pradesh

The IT sector is lagging behind electricity and manufacturing sectors in terms of attracting investment in Andhra Pradesh, according to a recent study undertaken by Associated Chambers of Commerce and Industry (Assocham).

According to the the study report, Andhra Pradesh could attract investment proposals worth Rs 12.09 lakh crore till 2011 end. The power sector took a share of 32.5%, the manufacturing sector has 21.7% of the share, while the services sector that includes IT could get only 19.8% of the share and stood at third position. The other sectors in the list include irrigation and real estate sectors with 11.6% each and mining with 2.8 %.

Gujarat and Maharashtra are in the first two positions among 20 industrial states and Andhra Pradesh stood third in the most-preferred investment destinations among 20 states in the country.

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