Investments into AP triple in last 5 years
Andhra Pradesh State received over Rs 1 lakh cr investments from 2019 to June 2023 against Rs 32,803 cr during 2014-2018 period
image for illustrative purpose
New Delhi: Andhra Pradesh has become a major industrial destination in the last five years, attracting more than three times investment than it did in the previous five years.
In the five calendar years, from 2014 to 2018, the state got Rs 32,803 crore actual investment, as per the Part B filings of industrial entrepreneur memorandums (IEMs). While Part A filings of IEMs indicate investment intentions, Part B filings are about actual investment.
In the four and a half years, from 2019 to June 2023, the state got Rs 100,103 crore in actual industrial investment, which was 226.9 per cent higher than the one it got in the 2014-18 period, official sources told Bizz Buzz. The progress was all the more remarkable because it included the four and a half years included the Covid pandemic, the lockdowns, and the disruptions associated with it.
In fact, in 2019 itself the state got more actual investment, worth Rs 34,696 crore in 73 projects, than it did in the previous five years.
Owing to the pandemic, the next year was very bad for the state, as for the rest of the country. It got just Rs 9,840 crore in 42 projects. The situation improved slightly in 2021, with 47 projects receiving Rs 10,350 crore. The year 2022 proved brought bonanza for the state, as it got Rs 45,217 crore in 46 project.
The first six months of 2023, however, did not show much promise, as 26 projects received Rs 7,135 crore. In the corresponding period in 2022, Andhra Pradesh got Rs 20,682 crore in 22 projects.
The Business Reform Action Plan, conducted by the Department of Industrial Policy and Promotion under the Union Ministry of Commerce & Industry, ranked Andhra Pradesh first in the ease of doing business index with a total score of 98.3 per cent on various indicators. The other Telugu state, Telangana, was second in the ranking.
