Fintech Valley promises big dreams for Information Technology


Chandrababu Naidu has big dreams and promises for converting the city into a information technology hub of global scale with Fintech Valley Vizag.

CM Chandrababu Naidu is looking to create in Vizag a global model, information technology ecosystem. Fintech Valley Vizag is the medium for delivering on the dreams and doing better than his efforts for Hyderabad. The IT hub will focus on development in the key fields of education, innovation and focused research. 11 companies are moving in and one of the biggest names Mastercard is in. The company is looking at transforming Vizag into a cashless city, the first in India. Others are ICICI Bank, Mahindra Finance who are looking at setting up accelerators in Fintech Valley. A facility of 5000 seats is getting set up by New Jersey based Conduent. Cumulatively we are looking at a potential investment of 6000 crores.

A logical choice – Citing the fact that 60 per cent of India’s Aadhaar usage comes from Andhra Pradesh, Chandrababu Naidu states the fact that the readiness for information technology, technology is here. As per India Today, “The state has set aside Rs 100 crore for innovation in blockchain and also hosted the first-ever conference on blockchain technology at Vizag on October 9-10. It’s also the first state to employ the e-governance technology through a pilot project in the road transport authority, and blockchain-based land registration in partnership with the Swedish start-up ChromaWay.” All this points to the fact that the big dreams that the Chief Minister has for Visakhapatnam is going to become real. Chief Minister Naidu says his aim is to create 100,000 jobs and attract US $2 billion in investments to Fintech Valley.

Source  – India Today

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