We are a phone call away: Andhra CM YS Jagan Mohan Reddy to investors

The state is determined to preserve its reputation for ease of doing business with focused policies

Shine Jacob Chennai
Y S Jagan Mohan Reddy

Y S Jagan Mohan Reddy

‘We are just a phone call away’ is one reason why Andhra Pradesh is consistently voted number one for ease of doing business, according to chief minister Y.S. Jagan Mohan Reddy
On three consecutive occasions - 2022, 2019, 2017 - the state has achieved the top spot in the rankings of the Department for the Promotion of Industry and Internal Trade. It is also one of the fastest growing states with a gross state domestic product of 11.43 per cent.

“For any industrial-related problems, we are one phone call away and that is the reason we are ranked number one,” said Reddy in a statement.
The statement was issued in connection with the Global Investment Summit 2023 which is being held at Visakhapatnam on March 3 and 4.

"It is common for every chief minister to boast about their state,” said Reddy. “But I am requesting you (industrialists) to come and feel the state, and I assure you that you will have a successful way forward.”
He highlighted the state’s infrastructure and coastline. “We have the second largest coastline in the country with six operating ports and four more. We have six airports connecting the country and AP will have three industrial corridors out of 11 in the country covering 80 per cent of the districts,” he said.

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Andhra Pradesh is being pitched as India’s gateway to the southeast with its 974 km long coastline. It is looking to develop four new ports, in addition to the six existing ones.
The three industrial corridors that are coming up are Visakhapatnam– Chennai, Chennai–Bengaluru and Hyderabad–Bengaluru. Since the Reddy government took charge in 2019, the state has seen investments of around Rs 56,534 crore from large industries and Rs 19,115 crore from micro, small and medium enterprises.

The state has identified 13 sectors with high growth potential in the long run. These include aerospace, defence, agriculture and food processing, automobiles including electric vehicles, electronics, information technology, healthcare and medical equipment, logistics, MSME, start-ups, petroleum, pharma, renewable energy, textiles, tourism and hospitality.
The state offers a land bank of around 46,500 acres with industrial zoning leading to a significant de-risking of the projects by avoiding delays. 

The IT sector has been a key driver in the growth of Bengaluru and Hyderabad in the neighbouring states of Karnataka and Telangana.  Having seen the role IT has played in their success, Andhra Pradesh is developing three IT concept cities at Visakhapatnam, Tirupati, and Anantapur that offer 20–25 per cent lower operating costs to  companies.
At present, a total of 88 projects are under active implementation in the state, with a total investment of Rs 2.35 trillion and a potential to create employment for 2,36,806 people.

First Published: Feb 23 2023 | 5:11 PM IST

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