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AP CM seeks investments; Stresses on doubling exports

Only State to come up with three industrial corridors Visakhapatnam-Chennai, Chennai-B’luru and Hyderabad-B’luru

CM YS Jagan Mohan Reddy inaugurating ‘Vanijya Utsav-2021’ in Vijayawada on Tuesday
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CM YS Jagan Mohan Reddy inaugurating ‘Vanijya Utsav-2021’ in Vijayawada on Tuesday 

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Vijayawada/Visakhapatnam: HARD-SELLING investment potential in Andhra Pradesh, Chief Minister YS Jagan Mohan Reddy on Tuesday said their government has adopted an industry-friendly approach with clearances in a record time and a slew of incentives.

Inaugurating the two-day 'Vanijya Utsav-2021' organised as part of Azadi ka Amrit Mahotsav, in Vijayawada, he said the government will continue to get closer to the traders by holding district-level conclaves during the next one week.

The utsav lays a special focus on boosting trade and exports. Earlier, the Chief Minister released the State Exports Action Plan 2021 and launched an e-portal specifically for exports.

He visited the stalls set up at the event and sought various details regarding the products. The Chief Minister presented the awards in the name of Industry Champion and Export Champion to various businessmen who have played a pivotal role in the industrial development and growth of exports in the State.

Ministers Mekapati Gautam Reddy, Peddireddy Ramachandra Reddy, Perni Venkatramaiah, Kurasala Kannababu, Dharmana Krishnadas, Vellampalli Srinivas Rao, Chief Secretary Adityanath Das, Industries Director Subrahmanyam Jawwadi, and other officials were present. The event attracted several top industrialists, foreign dignitaries and representatives from various industrial organisations.

Highlighting the huge potential for investment in the State, the Chief Minister said that the government will provide full support to the industrialists and use this event to bring the government closer to the traders and exporters.

Reddy said that the government is at the forefront of trade development and infrastructure creation in spite of facing overwhelming challenges in the past two years and achieved a growth of 19.43 per cent in exports. The State has witnessed consistent improvement in export performance from ranking at 9th place in 2018-19 to 7th position in 2019-20 and to 4th position in 2020-21 in the country and increased its share from $14.1 billion to $16.8 billion.

He said that the government is aiming to double the State contribution by 2030 which is currently at 5.8 per cent.

Recalling the decline in GSDP across the country from 6.3 per cent in 2018-19 to -7.3 percent in 2020-21, the Chief Minister said that the State suffered GSDP contraction of only 2.58 per cent in 2020-21. He said that in the last two years, 16,311 MSMEs have been established in the State with an investment of Rs 5,204 crore creating employment to over 1.37 lakh people.

Also, 68 large mega industries have been facilitated to start operations with Rs 30,175 crore by employing around 46,119 people. Similarly, 62 large and mega industries are also being set up with an investment of Rs 36,384 crore creating employment to 76,916 people. In the last one year alone, 10 mega projects have been approved envisaging an investment of Rs 2,6391 crore with an employment potential of 55,024 people.

Andhra Pradesh is the only State to come up with three industrial corridors Visakhapatnam-Chennai, Chennai-Bengaluru and Hyderabad-Bengaluru for accelerated industrial development across the State.

Highlighting the initiatives being taken in the State to bring investments, he stated that the government is establishing YSR Jagananna Mega Industrial Hub at Kopparthy in 3,155 acres to attract investments of Rs 25,000 crore and provide jobs to one lakh youth. In the same Kopparthy, YSR Electronics Manufacturing Cluster (EMC) is being set up in 801 acres with an investment of Rs 730.50 crores to attract investments to the tune of Rs10,000 crore and provide jobs to 25,000.

To boost exports, the government is setting up 25 secondary food processing units, which provides direct employment to 30,000 people and indirect employment to 50,000 people. Besides these, the government is also bringing a steel plant at an initiation cost of Rs13,500 crore with an annual production of 3 million tonnes and establishing a Gas Distribution Network by partnering with GAIL to make the availability of gas much cheaper.

Santosh Patnaik
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