AP drew Rs 9.2 L-cr Investments In 11 Months: Min Bharath

Visakhapatnam: Andhra Pradesh has achieved massive progress under the TDP-led NDA Government by attracting investments worth over Rs9.2 lakh crore in the first 11 months, Minister for Industries TG Bharath declared on Tuesday.

Speaking as chief guest at the first-ever FAPCCI Excellence Awards here, he stated that the State Government under the visionary leadership of Chief Minister N Chandrababu Naidu has drawn heavy investments since its formation, unlike the erstwhile regime when development came to a standstill. He said the investments attracted by the coalition generate over 8.5 lakh employment opportunities.

Bharath in his address emphasised the government's industry-first approach and elaborated on the salient features of AP Industrial Development Policy (4.0) 2024-29. “Our focus is on restoring investor confidence and addressing the long-standing concerns of the industrial sector,” he noted and narrated how they are trying to promote Brand AP by actively involving captains of industries.

Highlighting reforms, Bharath said AP now has among the most competitive industrial policies in the country and urged entrepreneurs to leverage State-provided incentives and harped on the “Speed of Doing Business” initiative for expediting approvals. He also called on businesses to participate in the P4 (People-Public-Private Partnership) model for inclusive growth.

Visakhapatnam MP M. Sribharat urged industry leaders to identify challenges and offer transformative ideas. “Your innovation could be the game changer Andhra Pradesh needs,” he said.

FAPCCI president Kankatala Mallikharjuna Rao commended the State's MSME policy, highlighting its generous incentives for tourism projects. These include a five-year 100 per cent SGST exemption from the start of commercial production, full reimbursement of land conversion fees, and industrial tariffs for power bills. He assured that all reimbursements would be processed within six months.

Earlier, awards were presented in 11 categories. Nekkanti Sea Foods Ltd, Visakhapatnam, was honoured for Excellence in Agri & Aqua Based Industries. Other winners included Ananda Enterprises (Export Performance – MSEs), Efftronics Systems (Product Innovation), and Ms. Annandi Suneetha (Outstanding Women Entrepreneur). Recognitions were also given to Steel on Call (Startup), Divi’s Laboratories (CSR), ITC – Agri Division (Employee Welfare), CCL Products (All Round Performance), Dalmia Cement (Green Energy), Aravind Industries (Rural Entrepreneurship), and Sarda Metals (Export – Large & Medium Enterprises).