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APEDB says deft investor handling led to investment of Rs.34K in 2 years

Tube Investments to buy electric tractor maker Cellestial for Rs 161 cr

Tube Investments to buy electric tractor maker Cellestial for Rs 161 cr

Visakhapatnam AP Economic Development Board (APEDB) says that deft investor handling aided by pro-active administration and transparent governance has led to a total investment of Rs.34,002 crore in past two years.

In a campaign launched to enhance the image of Chief Minister Y.S. Jagan Mohan Reddy in connection with his completion of two years in office, APEDB in a series of tweets stated that the investments could create 1.33 lakh jobs. Under its Twitter handle AP_EDB with a hashtag where abundance meets prosperity, it stated that further, Green Tech industries, Kia Motors, Kobelco and Srikalahasti Pipes are some of the few who have announced expansion plans in AP.

It hastened to add that a total of Rs.70,136 crore investment with an employment potential of 1.54 lakhi under implementation. Japanese tyre major ATG (Alliance Tyre Group), Taiwanese Apache/Intelligent, Nilkamal and Century Ply are some of the few that are progressing rapidly in AP.

The APEDB said as per IEM (Part-B) data by Department of (DPIIT), Government of AP has performed better than several neighboring States in 2019 and 2020 with Rs.34,696 crore and Rs.9,840 crore of investment intentions implemented. AP also contributed around 5% of India's merchandise exports and is targeting to increase its share by 10% by 2030.

Industries and IT Minister Mekapati Goutham Reddy recently said that unlike the erstwhile Telugu Desam Government, Chief Minister Y,S. Jagan Mohan Reddy believed in action as a result of which many are evincing to invest in AP notwithstanding the impact of the COVID-19 pandemic.

Santosh Patnaik
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