Buoyed by the interest shown by IBM for investment in Vizag and the decision of Microsoft to depute a team to explore business opportunities, the software entrepreneurs have decided to showcase the business potential here so as to achieve a turnover of Rs.10,000 crore in next five to 10 years.
The IT and IT-Enabled Services (ITES), mostly in small and medium enterprises (SME) are hit hard due to recession. However, with the economy showing signs of recovery, the entrepreneurs are pinning high hopes that showcasing ‘Brand Vizag' will fetch good results.
The annual turnover of the industry in and around Visakhapatnam in the field of software is stated to be around Rs.900 crore. By inviting major, medium and small players to the city, it is hoped that the turnover would reach Rs.10,000-crore-mark in next few years.
Real-estate is already picking up after Telangana agitation