AP industry feeling heat of high biz cost

We have a 974-km long coastline and attract several investments in multiple fields as part of port-led development. Hence, the new government led by Chief Minister N Chandrababu Naidu needs to improve the CoDB - O Naresh Kumar, V-P, Vizag Development Forum, and CEO of Symbiosys Technologies, tells Bizz Buzz

Vijayawada: With Andhra Pradesh ranking second in the country in ease of doing business (EoDB), investors from the State are now calling for a slew of measures to improve cost of doing business (CoDB) to bring about a significant change in the investment landscape.

“We have a 974-km long coastline and attract several investments in multiple fields as part of port-led development. Hence, the new government led by Chief Minister N Chandrababu Naidu needs to improve the CoDB,” Vizag Development Forum vice-president and CEO of Symbiosys Technologies O Naresh Kumar told Bizz Buzz.

He said entrepreneurs in AP, by and large, feel that besides EoDB parameters, the government should try to add their concerns over ninth time increase in power tariff in past five years, high rate of liquor cost, fuel (both diesel and petrol due to local taxes), land cost and the revision of property tax by linking it to market value of properties. If such issues are addressed properly, the cost of doing business will improve.

Grandhi Rajesh, Chairman, CII-Visakhapatnam Zone, hailed the efforts by the State for getting recognition at the national level for its pro-active policy initiatives saying steps should be taken to improve the ecosystem and address the connectivity issues to fasten the process for wooing the investors. Incidentally, AP has more than one thing to cheer about as far as EoDB is concerned. The State has moved from tenth to third rank in providing access to health, social security and legal assistance, according to Acess in Equality Index-2024 released by Centre for New Economic Studies. Coinciding with the development, Centre praised AP, Kerala and Gujarat for being recognised as top performers.

Union Minister for Commerce and Industry Piyush Goyal at a meeting held in Delhi praised several States for what he termed their “remarkable reforms in streamlining processes and providing efficient services to businesses and citizens alike.”

In the recent development, Kerala, followed by AP have been adjudged as the top performers by the Ministry of Commerce and Industry under the Business Reforms Action Plan (BRAP) for promoting EoDB. Goyal, while speaking at ‘Udyog Samagam,’ a conclave of Industries and Commerce Ministers from various States, opined that a genuine single window is the game-changer for improving the investment climate.

The Minister said: “We are experimenting with a system whereby people should not need to come to government offices for approvals and compliances. The Centre and the States can work together in all sectors and push towards greater employment opportunities.”

At the programme organised by the Department for Promotion of Investment and Internal Trade (DPIIT), Goyal recognised the outstanding work of States and UTs in enhancing the EoDB and said States like Kerala, AP and Gujarat were highlighted for their remarkable reforms in streamlining processes and providing efficient services to businesses and citizens alike.

Meanwhile, Gudivada Amarnath, former Industries Minister, said: “Under the dynamic leadership of former Chief Minister YS Jagan Mohan Reddy, Andhra Pradesh has achieved significant progress in the industrial sector, emerging as a top performer in the Business Reforms Action Plan (BRAP) for 2022.”

He said: “The Ministry of Commerce and Industry has recognized Andhra Pradesh as the second-best State in promoting ease of doing business, a testament to the vision and strategic approach of the former Chief Minister Jagan Mohan Reddy.”