Andhra Pradesh
Andhra Pradesh's gross state domestic product is the third largest in India. Agriculture has been the chief source of income for the state's economy. Two important rivers of India, the Godavari and Krishna, flow through the state. Rice, tobacco, cotton, mirchi, and sugarcane are the local crops. The state has also started to focus on the fields of information technology and biotechnology.
Hyderabad, the capital of Andhra Pradesh, is the fourth-largest cosmopolitan city in India, rich in culture, enduring history and industrial growth.
Hyderabad beat IT heavyweight Bangalore to bag the Fab City project, which will host India's first major silicon chip manufacturing facility. It is due to the Governments Unique FDI Policies and the City Infrastructure.
The advent of information technology growth in India, the so-called "Blue Chip Revolution", has fostered the growth of Hyderabad's economy. The city is sometimes referred to as "Cyberabad" because of the large number of IT firms in the city. Andhra Pradesh has witnessed a major jump in software exports. Hyderabad's IT export revenue was Rs. 81,450,000,000, an increase of 62% from fiscal 2004. For Andhra, fiscal 2004 is particularly significant as the 62% growth in exports in fiscal 2005 was almost double the 37% it grew in 2003–2004. Other cities such as Vizag and Vijayawada have shown growth in IT exports on an annual basis. Vizag's contribution was Rs 700,000,000, while it was Rs 240,000,000 from Vijayawada.
State-owned APSRTC Bus Service entered Guinness World Record for owning the largest fleet of buses IN 1999.
AP is one of the largest producers of rice (considered the 'Rice bowl of India'), Chilly, turmeric in India.
The government has initiated the Rajiv-Internet Village. Its plan is to establish broadband network across the state by connecting Districts with 10 GB/s and up to Mandals with 1 GB/s and up to villages with 100 MB/s bandwidth within June 2007.
Several Indian research institutes and companies are located in Hyderabad such as: 'NIN - National institute of Nutrition', 'NGRI-National Geographical Research Institute', CCMB- Cente for Cellular & Molecular Biology, NRSA, ICRISAT, BHEL, BDL, DRDL, DRDO, ECIL, NGRS, NHI, TIFR, IICT.
Infosys Technologies have signed a MoU Andhra for the expansion of its presence in Hyderabad. It is planning to ramp up headcount to 25,000 with an added investment of Rs. 1250 crore
Read more about this topic: Economy Of South India