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Hyderabad b-school project stirs a row; unfazed government to boost pro-business climate

The Andhra Pradesh government has said the location of the Indian School of Business in Hyderabad was a "matter of great credit", in the light of stiff competition from other states and would contribute significantly to the emergence of the city as a "knowledge hub".

The b-school proposal received flak from local Congress unit which accused that the state government was illegally evicting the homeless poor to clear the land for the project.

An official statement, however, said the government, as part of its efforts to develop Hyderabad into a major knowledge hub in south Asia, was working towards setting up a number of educational institutions.

The HITEC City and the Indian Institute of Information Technology were part of these efforts, it said adding that a "knowledge park" was coming up in Hyderabad in collaboration with the Industrial Credit and Investment Corporation of India.

It said the ISB was conceived and being set up by a group of Indian business leaders, including the founders/owners of the largest business enterprises in India and the managing director of McKinsey and Company, to groom the future business leaders of India, and especially Asia.

It said the government had requested the human resources development ministry to approve the setting up of an Indian Institute of Management and an Indian Institute of Technology in Hyderabad. A formal decision on these institutions was awaited.

In Visakhapatnam, Chief Minister Nara Chandrababu Naidu said the Telugu Desam Party government was committed to developing the state industrially in the near future.

Inaugurating the liquefied petroleum gas terminal of East India Petroleum Limited, a joint-venture project, he said that the state had plenty of natural resources and their proper utilisation would ensure speedy development.

He said the state government had been taking all possible steps to attract foreign investment to the state. The government would provide all necessary help to those who invest in the state, he said and appealed to young entrepreneurs to come forward to set up industries in Andhra Pradesh.

The state stood second in the country in industrial growth with a foreign investment of Rs 21 billion this year, he said and hoped that it would occupy the number one position soon.

UNI

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