Amaravati, Feb 8 (PTI) India is poised to become a leading player in quantum technology, which could prove to be a game-changer for the IT sector and the wider economy, Andhra Pradesh Chief Minister N Chandrababu Naidu said on Sunday.

The Quantum Valley initiative launched in Andhra Pradesh is set to usher in the next wave of the information technology (IT) revolution in the country, Naidu said in an interview with PTI Videos, emphasising that it would position India as a hardware-and-manufacturing powerhouse, in addition to being a software-and-services hub.

"Technology is mature now. AI is a reality. Real-time data collection is a reality. The next level is quantum computing as it has unlimited capabilities. As of today, this is the fastest, the father of all technologies or, you can say, the mother of all technologies," he said.

"Only a few countries have taken the lead in quantum technology and we are one of them. The Government of India has announced the quantum mission. Now, we are establishing it (Quantum Valley) here. With that, our people are ready to produce quantum computers and get into manufacturing now," Naidu said.

Acknowledging that MoUs and investment pledges often make headlines but do not eventually lead to enough action on the ground, the chief minister said he is working on improving that conversion rate and putting in place safeguards to ensure that non-serious players are weeded out.

"Earlier, I used to say ease of doing business. Now, I am going for speed of doing business. Any investor, when he invests, he is expecting returns. Then only will he survive. If his project is delayed abnormally, then naturally it will not be viable. All hurdles I want to remove. I am introducing escrow accounts for all benefits or subsidies.

"I have committed something for you, year by year. I will give you online with an escrow account. You do not come to me. This is where I wanted to promote self-discipline and also government regulation," Naidu said.

Investment proposals, he said, have to mandatorily come with clear timelines and proof of feasibility, and the progress has to be reviewed monthly.

"There will not be any delay. Any non-serious entrepreneur cannot do business with us. If you are serious, we will get it done. All clearances we are giving in 21 days, or even less. For some of the projects, 10 days, one week, including even land acquisition, difficult land acquisition. We convince farmers. It is a win-win situation. There is a project, then you will get employment, that area will prosper," he said.

Wealth creation through technology is one way to enable governments to carry out welfare schemes, the Telugu Desam Party (TDP) president said. Andhra Pradesh is able to follow such a model owing to its vast talent pool, he asserted.

"Andhra is leading in technology. Of every four people in the field, all over the world, one is Indian. Many IT companies are headed by Indians. Among Indians, the Telugu community accounts for 35 per cent," the chief minister said.

Asked whether the recent sentiment in the United States against H1B visas and calls to scale down the programme would adversely affect Indians, he said it is an opportunity to reabsorb some of that talent locally and pointed out that many of them are, in fact, coming back to create "great things".

Brain drain, he said, is also "brain gain" as a lot of entrepreneurs have brought back to the country the knowledge and expertise they built overseas.

In response to a question about the threat of AI making several jobs redundant, Naidu expressed the view that it is better to swim with the tide and not fear change.

"Any new technology, you cannot stop it. If you stop, then you will be the loser. You adopt it, that is a game-changer. Also, search for alternative opportunities for employment in other areas. There may be fewer physical jobs in the future but mental jobs will always be there," he said.

"When I first spoke of cell phones many years ago, some people said I was a 420 (fraud). They thought it was not possible (to have a mobile phone) but look where we are with the technology today," Naidu said. PTI SAP RC