Green energy, aerospace and defence, agriculture and food processing, automobiles and EVs, electronics, IT, startups and innovation, port-led development, logistics and infra, MSMEs, startup and innovation, petroleum and petrochemicals, pharma, and life sciences are among the 14 key sectors that the government of Andhra Pradesh has identified to draw in investment.
According to projections, AP will be the eighth-largest State, with ay serving as its industrial, IT, pharmaceutical, and tourism hubs. It is also suggested that the city, which has a population of over two million and is strategically positioned, be designated as the executive capital. This city is responsible for India’s largest export of frozen seafood, primarily aquaculture, with exports totaling more than Rs9,000 crore. “Natural resource availability, proactive policies, and individually designed incentives are being supplied based on their commitment to putting projects into action and giving people work opportunities,” Finance Minister Buggana Rajendranath said on Thursday to Bizz Buzz.
Under Chief Minister YS Jagan Mohan Reddy, he claimed, a stable administration with visionary leadership exists. He noted that another factor contributing to businessmen showing interest in investing in AP is the hassle-free permissions provided by the government. The key draws for creating a climate that is attractive to investors in AP are land, power, water, and other essential necessities in addition to a sizable land bank of 48,000 acres.