AP govt invites investors, highlights States advantages
Holds first roadshow in Bengaluru; manufacturing, food processing, ports, IT and electronics, handlooms, and textiles sectors attracted significant interest at the event
image for illustrative purpose
With the completion of new ports and also further development of infrastructure for last-mile connectivity, the State’s share in exports can reach up to 10% of India’s total exports. In last 3.5 years, the State has approved investments to the tune of Rs 1.9 lakh crore. That will create employment for around 90,000 people in the future
Vijayawada: Andhra Pradesh Government held the first roadshow in Bengaluru on Tuesday to invite investors to Global Investors’ Summit (GIS) being hosted in Visakhapatnam on March 3 and 4 and showcased the ‘Advantage AP’ campaign.
Minister for Finance Buggana Rajendranath and Minister for Industries Gudivada Amarnath along with several senior officials explained in their presentations the advantages of investing in AP and explained how the State under the leadership of Chief Minister Y S Jagan Mohan Reddy ranked numero uno in Ease of Doing Business third time in a row by the Government of India and secured a growth rate of 11.43 per cent.
They stated that the State is endowed with natural resources, large investments in infrastructure, land bank, and intensive reforms in rules and regulations. These efforts, taken together, position AP as the State where abundance meets prosperity. The event was one of many such meets being organised in the run-up to the GIS.
Speaking on the occasion, Gudivada Amarnath highlighted the State’s export potential and said “according to LEADS Report 2022, the State’s exports increased by 15.31 per cent from the previous year in 2021–2022, classifying it as “Achievers” in the coastal States. With the completion of new ports and also further development of infrastructure for last-mile connectivity, the State’s share in exports can reach up to 10 per cent of India’s total exports.”
Amarnath also added that in the last 3.5 years, the State has approved investments to the tune of Rs 1.9 lakh crore. “That will create employment for around 90,000 people in the future,” he said.
Addressing the investors, Buggana Rajendranath assured the investors of the fast-paced implementation of projects in the State. “We strongly believe reducing the time to start a business will have a significant impact on the manufacturer’s profitability. The State is building numerous plug-and-play facilities which will have ready-built factory sheds with quality power and water supply and help speed up setting up of manufacturing units,” he said.
Manufacturing, food processing, ports, IT and electronics, handlooms, and textiles sectors attracted significant interest at the event.
The officials explained that AP is India’s gateway to the southeast with its 974 km long coastline, the second longest in the country, six existing ports, and four upcoming ports. It also has emerged as the fastest-growing State in India, as per the number released so far, with double-digit growth of 11.43 per cent in 2021-22.
The event was graced by the key functionaries of State Government including Srijana Gummalla, Director of Industries, Commerce and Export Promotion, L Sridhar Reddy, CEO, AP Food Processing Society, Ravindranath Reddy, Deputy CEO, AP Maritime Board and K Sunitha, Principal Secretary, Handlooms and Textiles.
