Softbank’s interest in Andhra augurs well for the state to attract new investments

Softbank'sSon and Bharti's Mittal meet Andhra CM Naidu

Softbank’sSon and Bharti’s Mittal meet Andhra CM Naidu

J.Vishnu Shankar

The tide turned in favour of Hyderabad on the IT map when Bill Gates agreed to set up Microsoft office there leaving other contenders such as Bangalore, Chennai etc in the lurch. By itself the investment by Microsoft was not much. But it sent out  a powerful signal of symbolic strength, garnered huge attention to Hyderabad and opened flood gates with many others coming in with investments later.

Andhra Pradesh can count on another such moment now. The news that Japan’s Softbank (which is working together with Foxconn and Bharti group to make big investments in India) has met AP CM Naidu and evinced interest in Andhra is a very good news. Softbank’s moves are well followed in business circles and the fact that it is actively considering Andhra is a very good news.

Meanwhile Foxconn has closed its Tamil Nadu plants in the wake of Nokia factory’s closure in Sriperambadur on the outskirts of Chennai and has started work on a plant in Sri City, Chittor district. Sri City now looks unstoppable and that is again great news for the industrialisation of Andhra.

Here is the news of Soft bank’s interest in AP as reported in NDTV.

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