Andhra Pradesh chief minister N Chandrababu Naidu on Tuesday announced that Vishakhapatnam will become the hub in terms of innovation, information technology and artificial intelligence soon.

At the 2nd edition of Vizag Fintech Festival, Naidu said: “I myself monitor citizen feedback daily, and everyday set the programmes accordingly. We are working in the direction of water management for irrigation policy and many things are coming with technology where we will able to work on ease of doing business in the near future. My focus will be on corruption free government, working to build institutions in a big way, creating more employment. I want to ensure that one out of four engineers in India comes from Andhra Pradesh.”

Naidu said Andhra Pradesh will get 3rd position in the world in terms of ease of doing business and innovative technology. The Fintech fest will see more than 2000 delegates, around 25 international speakers and representation from 15 countries.

The Chief Minister said the government is working on rural development as agriculture sector is one of the important sectors after Industry.

Telecom Regulatory Authority of India (TRAI) chairman RS Sharma, R Chandrashekhar from Yes Bank, Girija Shanker from Oriental Insurance Co. Ltd, Gopal Singh Gosain from Union Bank of India, Sunita Bhagat from HDFC bank were also present on the dais. On the issue of call drops, RS Sharma told The Statesman that they are working on live telecast, mapping of the network on a large scale to combat the problem.

Sunita Bhagat from HDFC bank said “Nowadays 80 per cent transactions are being done in digital mode and the customers behaviour is changing daily which indicates a technology boom in coming days.” She said HDFC is the first bank to launch loans in 10 seconds and it now has 45 million customers.

The five-day festival from 22 to 26 October will focus on BankTech, InsurTech, Gov- Tech, Financial Inclusion and EmergeTech. The conference will host an exclusive group of leading corporates, startups, academia and regulators from around the globe who will meet up and explore how these technologies will impact the future.

The Fintech Valley in Vizag focuses on converging finance and technology to create large avenues of growth through industry, world-class infrastructure, entrepreneurship and innovation.