AP hopes to generate 50 k jobs in Fintech sector

Andhra Pradesh government is confident of attracting an investment of Rs 500 cr in the Fintech (Financial Technology) sector in the coming two years with a job potential of over 50,000.

The government which had attracted six major firms and 70 startups through its first edition of Fintech festival in Visakhapatnam in 2016 has roped in Deloitte in the latest round on Tuesday.

Deloitte will be opening its centre in state capital Amaravati.

Inaugurating the second edition of Vizag Fintech Festival 2018, Andhra Pradesh Chief Minister Chadrababu Naidu said that his government wants to promote Vizag as fintech hub of India and aiming to make it the country's cleanest city and also one of the top 3-4 fintech destinations in the world in the next two years.

"We want to use technology such as block chain technology to make the state corruption free with the target of giving visible governance and invisible government. Proper leadership can bring everything," he said.

The state has seen 10.5% growth rate in the past four years but we are not satisfied, we are targeting 15% growth rate and it's possible, NAidu said.

Nearly 30% of the total cell-phones manufactured in India were being produced in Andhra Pradesh.

"The Tirupati, Nellore and Chennai tri junction will host the Silicon Corridor of India where hardware and electronic item would be manufacture to cater the global needs," he said adding that his government would develop 175 MSME parks cross Andhra Pradesh with a vision that at least one person in every family should be digitally literate and one with entrepreneurial skill.