And surprisingly the financial sector, beginning with GE Captial Services and the ICICI, appears to be buying it with a proposal to set up a financial services park in the city finding ready champions.

Kicking off the roadshow for the fourth tranche of the ICICI Safety Bonds, nicknamed the Andhra Development Bonds, Naidu said turning the city into the financial services capital of the country was high on his agenda and it will do everything possible to achieve the objective.

Promising to pull out all stops, Naidu even gave an assurance of providing the necessary land for setting up such a venture within the city. Picking up the cue from the ICICI managing director and chief executive officer KV Kamath, who saw no reason why five or sixcompanies like his should not get together to set up such a park in the state, Naidu said he had mooted discussions with some financial services majors and some like GE Captial Services had evinced interest in setting up shop in Hyderabad.

"By setting up such a park we will not only create more employment but also a complementary sector for the information technology industry in the state", Naidu said observing that a vibrant services sector in fact preceded true development in most developed countries.

On his part, Kamath said he would like to make Hyderabad the banking city of the future with technology being the driving force. ICICI had definite plans which would be finalised within three months extending travel-related banking, card-based employee services, and forex services to the IT companies in the state. "We will like to be a part of the state's growth," Kamath said evincing keen interest in increasing the ICICI exposure in AP.