Additionally, favorable power tariffs for IT companies have been proposed to further stimulate growth in the technology sector.

During a recent review meeting, Andhra Pradesh Chief Minister N Chandrababu Naidu announced plans to construct an iconic building for deep technology in Amaravati, underscoring the crucial role of Artificial Intelligence and other emerging technologies in shaping the future.

Naidu's initiative aims to transform Andhra Pradesh into a global innovation hub, a vision supported by Human Resources and IT Minister Nara Lokesh, who expressed confidence in the potential for significant employment generation.

The chief minister highlighted the importance of sectors like AI, robotics, and blockchain, collectively referred to as deep technology, in driving the future economy.

To foster innovation, the state will introduce seed funding initiatives, offering financial assistance of up to Rs 25 lakh to support entrepreneurs from marginalized communities under the new start-up policy.

The state's IT and Start-Up Policy will categorize subsidies for IT developers based on workspace capacity and company turnover, with a focus on companies employing at least 100 professionals or achieving a turnover of Rs 30 crore.

Incentives will be established for companies meeting these financial thresholds, aimed at encouraging job creation and economic growth.

Naidu set ambitious goals to establish 500,000 workstations by 2029 and 1 million by 2034, along with the creation of co-working spaces and multi-storied office complexes.

He directed district collectors to identify suitable lands for workstation development, emphasizing the need for skill upgrades among rural youth who often possess knowledge but lack essential skills.

The chief minister also called for monthly reviews of job creation initiatives targeted at youth, highlighting the necessity of accurate statistics on remote work to effectively establish workstations.

To further support innovation, five regional hubs will be established across Andhra Pradesh, linked with the Ratan Tata Innovation Hub and 25 Indian Institutes of Technology (IITs), fostering a robust start-up ecosystem.

Naidu's comprehensive approach includes a single-window system for granting permissions and basic amenities for IT companies, aimed at streamlining processes and encouraging growth in the sector.