December Roundup: Andhra Emerges as Investment Hub in India

Amaravati: The year has seen the Andhra Pradesh government taking firm steps towards rapid industrialisation and the MoUs translating into momentum and investments pouring into various sectors more so in green energy, food processing, pharma and other industries. 

Chief Minister YS Jagan Mohan Reddy’s initiatives had attracted investment proposals worth around Rs 13 lakh crores through more than 370 MoUs signed with various industrial houses and investors at the Visakhapatnam Global Investment Summit.

The State topped the table in the Ease-of-Doing Business (EoDB) for the third consecutive year and its proactive role has contributed in making the State as the new investment destination in various sectors with the single window clearance policy. 

Sustained efforts of the Government attracted public sector and industry majors like NTPC, ABC Limited, Oberoi Group, Aurobindo Pharma, Adani Green Energy, AM Green Solar, Aditya Birla, Jindal Steel, K Raheja and Greenlam South Group transforming the State into a launching pad for several eco-friendly industries.

The year witnessed emergence of several food processing, pharmaceutical, hotels, resorts, industrial, solar and green energy units worth Rs.37,397 crore in all regions resulting in equal employment opportunities, justifying the Chief Minister’s vision of decentralised development for a balanced growth. 

The Chief Minister also took vibrant measures to ensure the growth of MSMEs by handholding them to adopt and implement modern management systems, innovative and management skills in vogue worldover. 

The efforts to promote MSMEs in 54 clusters by creating land banks in all districts for decentralised industrial growth paid off through the emergence of exclusive MSME parks across the State. The main feature of the parks is that they would be equipped with Common Facility Centres (CFC) for sharing knowledge, machinery, tools and testing labs for product development.

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It also helped the State become the destination for sustainable growth and development with a 59 per cent increase in the number of MSMEs indicating a holistic atmosphere for their sustenance. The Chief Minister's vision reflected in the new industrial policy to have CFCs in MSME parks which get 20 percent of the area in all industrial estates across the State.

With self-help group members promoting small business enterprises with the help of Cheyutha funds in the year, Government’s efforts are yielding results to retain the momentum of bagging the best performer rank in the country in the Centre’s MSME Index for 2022.

With Cheyutha beneficiaries launching Cheyuta Mahila Marts and units of garment making, tamarind processing, onion, solar drying, e-mrchi and backyard poultry, Government entered into agreements with MNCs like Hindustan Unilever, ITC, Reliance, Mahindra and P&G for marketing the products through their countrywide sales network which has been paying dividends.

The year has seen Industry bigwigs like Mukesh Ambani, Karan Adani, Naveen Jindal, GM Rao, Sumant Sinha, Hari Mohan Bangur, Preetha Reddy, Puneet Dalmia, Sajjan Bhajanka, Sumit Bidani, BVR Mohan Reddy, Sergio Lee, Suchitra K Ella, Santhanam B, Vineet Mittal, Gajanan Nabar, Masahiro Yamaguchi and Martin Eberhard gracefully visiting the State to give a fillip to the industrialisation.

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