The proposal is pending with the State government.
To attract Small and Medium Enterprises (SMEs) in the IT sector, the government has formulated the Information and Communications Technology (ICT) Policy 2005-2010.
Under the ICT Policy, SMEs are offered 25 percent rebate on power tariff for the first three years of operations and conversion to industrial tariff, 50 percent subsidy for participating in international exhibitions and preferred land allotment.
NEW ENTRANTS: Letters of permission had been given to four new export-oriented units (EOUs) in Visakhapatnam Special Economic Zone (VSEZ) in the current year, according to official sources. An equal number of companies were allowed to be started in the city.
Visakhapatnam city stands a good chance of attracting a large number of SMEs because of its easy accessibility compared to the VSEZ (located in Duvvada) and incentives promised under the ICT Policy.
IT SKILLS: With the entry of IT majors, the need for skilled manpower has been realised. A meeting of principals of various colleges was held recently by the State IT Department to motivate students to acquaint themselves with IT skills that are required for working in firms like TCS.
Visakhapatnam and the coastal belt from Kakinada to Srikakulam has a large number of science and engineering colleges churning about 5,000 graduates and post-graduates every year.
