With GSDP growth rate of 11.43 per cent, Andhra Pradesh is the fastest growing state and ranks number one in the ease of doing business, said Chief Minister Y.S. Jagan Mohan Reddy.
He showcased the potential of the state and vast opportunities for investment before the diplomats and investors at an event held in the national capital on Tuesday as a curtain raiser to the global investors’ summit scheduled to be held in Visakhapatnam on March 3-4.
He said that Andhra Pradesh has achieved the number one rank in the Ease of Doing Business (EoDB) and has retained it for the third successive year.
Detailing the various advantages of investing in the plug and play industrial ambience, he called upon global nations to invest in the state and be part of its economic growth.
Diplomats of various countries, representatives of different companies and officials of the state and central governments participated in the meeting.
Jagan Mohan Reddy told the participants that out of 11 industrial corridors being developed by the Centre across the country, Andhra Pradesh shares space for three of them — Hyderabad to Bangalore, Visakhapatnam to Chennai and Chennai to Bangalore.
He pointed out that the state had a 974 km long coastline and vast natural resources with 48 minerals. He told the investors that the state has a single desk portal to clear licenses in 21 days.
He underscored the fact that availability of various industrial clusters like textile, cement, medical, renewable energy, food and automobiles would offer plenty of opportunities for industrialists to make investments in the state and grow their businesses besides providing employment to the youth.
The state has excellent connectivity with six sea ports and six airports with four more sea ports to be added soon, said the chief minister, outlining that the state stands as the gateway of South East Asia due to its strategic location having the added advantage of inland water ways.
Earlier, CEOs of companies like Toray, Kia Motors, Cadbury, Saint Gobain and Apache spoke about the advantages of setting industries in Andhra Pradesh and appreciated the government’s efforts in extending cooperation for them. They said that Andhra Pradesh is the best destination for them as it has a committed bureaucracy and political leadership.
The dignitaries also watched an AV ‘Advantage Andhra Pradesh’ presented by the government on the 360 degree advantage it has in every sector. The chief minister also interacted with the participants and exchanged views.
“We are ready to create the infrastructure needed for industries. Andhra Pradesh is a paradise for investments. We will respond to any of your needs within a single phone call,” he said.
Debjani Ghosh, President, Nasscom, shared that Andhra Pradesh is a leader in three aspects and is way ahead of competition.
“The most important among these is energy. Anyone with competitive advantage in energy is going to be the leader. And the state of Andhra Pradesh is rightly positioned there. The second one is supply chain resilience. Boasting of a second largest coast line, best port infrastructure in the country with 6 operational ports and airports and another 4 more being added up, the state’s supply chain linkage and resilience is unparalleled. The third one is digital transformation; as far as I remember Andhra Pradesh has always been a leader in the adoption of technology,” she praised.
Bharat Biotech Co-Founder and Chairperson for CII Southern Region, Suchitra Ella, praised the state government’s initiative towards industries.