The Andhra Pradesh government, ahead of the Global Investors Summit, held an Investors’ Meet in Bengaluru, in order to attract investments to the State. It aims to attract domestic and global investment across sectors and looking to get a 10 per cent share in India’s exports.
The State said it has 48,352 acres of land bank for industrial development, as well as ready-built infrastructure to shorten the time required to set up new facilities. It also showcased its natural resources, the large investments the government has made in infrastructure, land bank and intensive reforms in rules and regulations during the meet.
Buggana Rajendranath, Minister for Finance, Government of Andhra Pradesh, assured the investors of the fast-paced implementation of projects in the State. “We strongly believe that reducing the time to start a business will have significant impact on the manufacturer’s profitability. The State is building numerous plug-and-play facilities with ready-built factory sheds that have quality power and water supply. This will help speed up the setting up of manufacturing units,” he said.
The State officials promised to handhold potential investors and facilitate the fastest turnaround time. Present and upcoming infrastructure and the policy environment of the State were also showcased during the meet.
Gudivada Amarnath, Minister for Industries, Infrastructure, Investment and Commerce, Government of Andhra Pradesh said, “According to LEADS Report 2022, the State’s exports have increased 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 the 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 ₹1.9-lakh crore. “This would go on to create employment for around 90,000 people in the State in the future,” he said.