Business & Policy | Finance & Economy | Trade Analysis

Andhra Pradesh Is The Best Investment Destination; Says Amarnath

Published: February 21, 2023
Author: DIGITAL MEDIA EXECUTIVE

Gudivada Amarnath, Industries and Commerce Minister said on Monday that the proactive policies pursues by the YSRCP government which is led by chief minister Y S Jagan Mohan Reddy have plans of transforming Andhra Pradesh into an investment destination from across the world.

The roadshow in Mumbai was held to invite investors to the Global Investors summit 2023 in Vishakapatnam on 3rd March and 4th. The government offers the fastest single-window clearance, usable coastline, ports, quality power, abundant land bank, state-of-the-art infrastructure to Maharashtra investors for collaborating with businesses for growth.

Maharashtra is an important hub for economy in India. Maharashtra alone accounts 14% of the GDP and contributes 20% of the industrial output. This will help the growth-oriented, economic power-house states.

Gudivada Amarnath said, “With its diversifies portfolio across industry (including sectors such as automobiles, chemicals, aerospace-defense, pharmaceuticals, textiles, infrastructure (ports, road network), IT/ITeS, staruo ecosystems, gems-jewellery, finance, the State boasts of the highest per capita income of $3,800 in 2021-22”. He further said, “At the moment, 89 larger projects are under active implementation with a total investment of Rs.2.2 lakh crore (USD 27.54 billion) with potential to create employment for 20,000 people”

Maharashtra being the champion state on the ease of doing businesses. This also has a availability of large industrial land, 530 industrial estates, 293 industrial parks, 31 MSME parks, 6  special economic zones (SEZs), three information technology  SEZs and three major industrial corridors.  Andhra Pradesh is equally competent  in investing .

 

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