Andhra Pradesh CM YS Jagan Mohan Reddy Highlights Business Enabling Policy, Infrastructure in the State; Says ‘Just 21 Days for All Approvals’

New Delhi, January 31: Chief Minister Jagan Mohan Reddy held a curtain-raiser event for Andhra Pradesh Global Investor’s Summit in the national capital on Tuesday and accentuated how the State created a business-friendly environment.

Welcoming investors for the Global Investor’s summit which will be hosted in Visakhapatnam on March 3-4, Chief Minister said that the event aims to showcase the State’s strengths and the plethora of available opportunities. Visakhapatnam To Be New Capital of Andhra Pradesh, Announces CM YS Jagan Mohan Reddy (Watch Video).

Addressing the international diplomatic alliance roundtable meeting hosted in Delhi, CM Jagan Reddy said, “Andhra Pradesh has emerged as the fastest growing state in the country with an 11.43 per cent year-on-year GSDP growth rate during the financial year 2021-22. Owing to an industry-friendly government, robust infrastructure, and enabling policy environment, Andhra Pradesh has always been an attractive choice for businesses from across the world. When industries grow, it speaks volumes of what we do in the state. In fact, all approvals take less than 21 days, thus making it easier to do business.” Karnataka Aims To Bag Rs 5 Lakh Crore Investment in Global Investor’s Meet.

The Chief Minister highlighted how the industrial corridors help in ease of doing business and magnifies the scope of scaling up the process. Hence, he announced that three industrial corridors would be constructed in Andhra Pradesh as part of the 11 being constructed in association with the Centre.

CM Jagan Reddy said the emphasis has been on logistics efficiency and alluring global investors. With Andhra Pradesh having the second largest coastline in India, it is leveraging its inherent maritime advantage through the development of four new seaports. This is in addition to the existing six operational ports apart from six airports, he said.

Hailing the investment-friendly environment in the State, industrialists said the state played a major role in supporting companies during a tough time such as Covid-19.

Yamaguchi, Toray Industries CEO and MD said with the support of the Andhra Pradesh government, the company could start production despite the Covid constraints.

“We have had huge support from Andhra Pradesh. We have invested Rs 1,000 crore in AP and started two business units. But then Covid happened. With the support of the AP government, we started production again in June 2020. Our business plan is to invest more than double our present investment by 2030. We are expecting the AP government’s support for growing together,” Yamaguchi said.

Roshan Gunawardhana, Director, Everton Tea India (Pvt) Ltd praised the ease of doing business in the state and the government’s handling of Covid-19.

He said, “Ease of doing business is one factor that was good in AP and the support we got from the government helped us set up the units here. 99% of the employees are local. We are grateful to the officials and authorities for supporting us during Covid-19.”

Deepak Iyer, President, Cadbury India thanked the government of Andhra Pradesh for the best single-window clearance systems in the country. “Our deepest gratitude to govt of AP for providing one of the best single-window clearance systems in the entire country. We do business across the country but AP is one of the best,” stated Iyer.

Tae Jin Park, MD and CEO, Kia (South Korea) Motors acknowledged Andhra Pradesh’s rich and abundant natural resources and assured economic growth.

Tae noted that the ease of connectivity including proximity to major ports like Krishnapatnam and Chennai would enable KIA to sell their cars not just across India but across 95 countries in the world.

Remembering the journey of Apache in the state of Andhra Pradesh, Sergio Lee, Director, Apache and Hilltop Group (Taiwan) said the company’s success would not have been possible without Andhra Pradesh’s support. He added that with the latest technology with green energy concept, the company is looking forward to contributing to economic growth in Andhra Pradesh.

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