The Government of Andhra Pradesh, ahead of its Global Investors Summit 2023 to be held on March 3 and 4 in Visakhapatnam, has assured to provide the ‘fastest’ single-window clearance, quality power, plenty of land and state- of-the-art infrastructure to investors from Maharashtra seeking to set up base in the east coast to access markets in the ASEAN region.
The State Government has also attracted the attention of investors to Andhra Pradesh’s vast coast line with six operational ports and four ports under construction “having potential for lowest cost of doing business.”
“With its diversified portfolio across industry [including sectors such as automobiles, chemicals, aerospace & defence, pharmaceuticals, textiles], infrastructure [ports, road network], IT/ITeS, start-up ecosystem, gems and jewellery, finance and tourism, the state boasts of the highest per capita income of $3,800 in 2021-22,” according to Gudivada Amarnath, Minister for Industries, Infrastructure, Investment & Commerce, Information Technology, Handlooms & Textiles, Andhra Pradesh.
“At the moment, 89 large projects are under active implementation with a total investment of ₹2.2 lakh crore ($27.54 billion) with potential to create employment for 20,000 people,” he said.
With the availability of large industrial land banks, 530 industrial estates, 293 industrial parks, 31 MSME parks, 6 special economic zones (SEZs), 3 information technology SEZs, and 3 major industrial corridors, Andhra Pradesh is wooing investent in the areas of agriculture, agro-based industries, maritime sector, manufacturing, food processing, ports, IT and electronics, handlooms, and textiles, he added.
