The Andhra Pradesh State Investment Promotion Board (SIPB), headed by Chief Minister N Chandrababu Naidu, on Friday approved 10 major IT and futuristic technology projects with a total investment of ₹526.25 crore. According to the latest press release, these projects are projected to create 8,896 high-quality jobs across the state, focusing on cutting-edge technology sectors. The IT and futuristic technology projects are expected to create nearly 9,000 jobs, as reported by ETInfra, enhancing opportunities in quantum computing and AI across the state.
The approved projects include a ₹100 crore investment by Muthoot Fincorp Limited to establish an Integrated Hub for AI and Tech Training Centre in Visakhapatnam. The SIPB also approved a ₹44 crore investment by Deloitte to set up a state-of-the-art operations centre with a capacity of 2,500 seats. Additionally, the board cleared a ₹167 crore investment by Quantum Codon Pvt Ltd in Amaravati to establish an integrated quantum AI-driven biotechnology innovation campus for drug discovery research, which is expected to create 126 jobs.
As reported by the state government, the approved projects span across Visakhapatnam, Amaravati, and Kadapa, positioning Andhra Pradesh as a powerhouse of cutting-edge technology. The administration emphasized its commitment to transforming the state through world-class investments in quantum computing, AI, and IT services. According to the press release, Amaravati is set to emerge as a national hub for quantum computing, photonics and AI-driven biotechnology, while Visakhapatnam has gained major momentum with global firms receiving approval to establish large-scale operations and training centres in the port city. The state government remains firmly committed to bringing world-class investments in quantum computing, AI and IT services to Amaravati, Visakhapatnam and Kadapa, empowering local youth with futuristic employment opportunities.
The state government highlighted that these approvals will empower local youth with futuristic employment opportunities across multiple technology sectors. According to the press release, major global brands like Deloitte and Muthoot Fincorp are expanding their footprints in Visakhapatnam with high-capacity seating operations, contributing to the state's technological transformation and job creation objectives. The IT and futuristic technology projects are expected to create nearly 9,000 jobs, as reported by ETInfra, enhancing opportunities in quantum computing and AI across the state.
