VIJAYAWADA: Inviting industrialists to invest in Andhra Pradesh, Finance Minister Buggana Rajendranath said the State has worked to ensure a conducive environment for businesses to thrive.
In the run up to the Global Investors’ Summit, scheduled to be conducted in Visakhapatnam on March 3 and 4, the YSRC leader participated in a roadshow organised in Mumbai. The government has already organised roadshows in Bengaluru and Chennai.
Asserting that AP is blessed with abundant natural resources, mineral wealth, a number of leading educational institutions and skilled youth and easy environment for businesses to grow, Buggana highlighted the State’s strategic location on India’s east coast, robust infrastructure, thriving industrial and business ecosystem, skilled manpower, and the immense potential for growth across sectors.
“Our government has taken various steps to ensure rapid industrial growth by ensuring stable governance and a hassle-free business environment. The Investors’ Summit 2023 is an ideal platform for companies to learn about Andhra Pradesh and its advantages, witness the progress it has made and engage with the government to discuss potential opportunities for collaboration,” he said.
Pointing out that AP is taking big strides in economic growth, he said the State recorded GSDP of 11.43%, the highest among all states in financial year 2021-22. He felt that AP’s next wave of growth will be driven by mega infrastructure projects.
He further said AP is the only State in India with three industrial corridors and four electronic manufacturing clusters. Industrial nodes are being planned in close proximity to Chennai, Bengaluru and Hyderabad to provide excellent connectivity from the ports to various hinterland locations, he added. These corridors are going to become hubs for industrial growth for decades to come, he asserted.
He explained that the State government’s vision for economic development in the State is centred on balancing growth across regions of the State, promoting risk-free business environment, sustainable industrial development and enabling large-scale job creation. Industries Minister Gudivada Amarnath and MAUD Minister Audimulapu Suresh and others were present.