AP banks on fast-track clearance to woo investors

Advantage AP campaign

• projected as the 8th largest State with 162,968 sq km

• Showcases 974-long coastline, 6 operational ports, 4 greenfield ports

• Ensures average time to start a project within 21 days

Visakhapatnam: Andhra Pradesh is showcasing 974-long coastline, six operational ports and four greenfield ports under development, six operational airports and an aeropolis proposed at Bhogapuram, rich demographic dividends and 1.2 million strong Telugu diaspora-the second largest diaspora abroad with one-fourth of IT professional working in the United States from the Telugu-speaking States of AP and Telangana, as the biggest advantages for investment during the Global Investors’ Summit (GIS) here on March 3 and 4.

As part of publicity blitzkrieg under ‘Advantage Andhra Pradesh’ campaign, the entire official machinery in association with the industrial bodies like Confederation of Indian Industry (CII), is slogging out to harp on the plus points for investment in focus areas like aerospace and defence, agriculture and food processing, automobiles and electric vehicles, electronics and IT, healthcare and medical equipment, industrial logistics and infrastructure, MSME and startups, innovation, petroleum and petrochemicals are being spread during behind-the-scene discussions to rope in investors.

While Visakhapatnam is expected to be on top of priorities for investments, the authorities will be highlighting the advantages of taking up projects at Vijayawada, Anantapur, Kadapa, Kurnool, Rajamahendravaram, Srikakulam and other areas across the State as part of commitment to ensure development in all the regions. AP is being projected as the eight largest State with 162,968 sq km, having highest double digit growth of 11.43 per cent with a GSDP of USD 90.93 billion in 2021-22, ranking of No 1 in EDB for fourth time since 2016 and ensuring the average time to start a project within 21 days. The government wants to develop Visakhapatnam as the new capital as part of decentralisation.

“Through the Advantage Andhra Pradesh Campaign, we expect a lot of big ticket projects getting grounded in the State in IT, electronics and other thrust areas so as to ensure reverse migration as Telugu-speaking people are a dominant community in IT domains in the United States and other parts of the world. Infosys is making preparations to launch its facility at Rushikonda and we do expect many more players to set up their development centres in Visakhapatnam and other places,” IT Association of AP (ITAAP) president Sreedhar Kosaraju told Bizz Buzz.

During the campaign, the government is asking businesses to set up shops in its vibrant city of Visakhapatnam that ranks among India’s top five cleanest cities as per the recent Swachh Bharat rankings. The government has already announced plans to set up exclusive IT parks near Bhogapuram International Airport and another in Anantapur district. Visakhapatnam is the biggest urban agglomeration with a coastline stretching over 85 km. During roadshows as a prelude to GIS, AP Ministers said Visakhapatnam is a coastal city with cosmopolitan culture with good connectivity and an ideal ecosystem for industrial, educational and tourist activities.

AP is showcasing its rich natural resources, large investments in infrastructure and intensive reforms in rules and regulations to create an investment-friendly environment. Promising to handhold potential investors and facilitate the fastest turnaround time, Ministers Amarnath, Bugganna Rajendranath and A Suresh stated during roadshows they are expecting huge investments in agro-based industries, green energy, IT, electronics and EV, port-led development and aerospace.