Bengaluru: Andhra Pradesh showcased its rich natural resources, huge investment in infrastructure, land bank and deep reforms in rules and regulations at the investors meet held in Bengaluru on Tuesday.
The event is one of several such meetings being organized in the run-up to the Global Investors Summit in Visakhapatnam on March 3-4, it said in a statement.
Andhra Pradesh’s Investors Meet held in Bengaluru ahead of Global Investors Summit 2023, offering 48,352 acres of land bank for industrial development as well as ready-made infrastructure to reduce the time required to set up new facilities Is. ,
Speaking on the occasion, Minister for Industries, Infrastructure, Investment and Commerce, IT, Handlooms and Textiles Gudivada Amarnath highlighted the export potential of Andhra Pradesh.
The minister said: “As per the LEADS report 2022, the state’s exports grew by 15.31 per cent in 2021-2022 as compared to the previous year, classifying it as ‘Achievers’ among the coastal states. With the completion of new ports and With further development in terms of infrastructure for last-mile connectivity, the state’s share in exports could reach 10 per cent of India’s total exports.”
Addressing the investors, Finance, Planning, Commercial Taxes, Skill Development, Training and Legislative Affairs Minister Bugna Rajendranath assured the investors of speedy implementation of projects in the state.
“We strongly believe that reducing the time to start a business will have a significant impact on the profitability of the manufacturer. The state is building a number of plug-and-play facilities, including ready-made factory units with quality electricity and water supply. The sheds will be there and will help in speeding up the setting up of manufacturing units,” the minister said.
Amarnath said that in the last three and a half years, the state has approved investments worth Rs 1.9 lakh crore.
“This will generate employment for about 90,000 people in the state in future,” he added.
Key functionaries from various departments, ministries and institutions of the state government held an open interaction with the investment community in Bengaluru.
The Manufacturing, Food Processing, Ports, IT & Electronics, Handloom and Textile sectors showed great interest in the event.