The Government of Andhra Pradesh, forward of its Global Investors Summit 2023 to be held on March 3 and 4 in Visakhapatnam, has assured to present the ‘fastest’ single-window clearance, high quality energy, lots of land and state- of-the-art infrastructure to investors from Maharashtra looking for to arrange base within the east coast to access markets within the ASEAN area.
The State Government has additionally attracted the eye of investors to Andhra Pradesh’s huge coast line with six operational ports and 4 ports beneath building “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,” in accordance 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 stated.
With the provision of massive industrial land banks, 530 industrial estates, 293 industrial parks, 31 MSME parks, 6 particular financial zones (SEZs), 3 data know-how SEZs, and three main industrial corridors, Andhra Pradesh is wooing investent within the areas of agriculture, agro-based industries, maritime sector, manufacturing, meals processing, ports, IT and electronics, handlooms, and textiles, he added.
