Hyderabad: Andhra Pradesh Industries and IT Minister Gudivada Amarnath stated that AP is heading towards becoming “the best destination for investment in the country.”
Amarnath was speaking at a roadshow in Hyderabad on Friday ahead of the Global Investment Summit (GIS) 2023 which will be held in Visakhapatnam on March 3 and 4.
“Our focus is on building Visakhapatnam as the next global IT destination. Andhra Pradesh is the only state with three industrial corridors i.e Visakhapatnam-Chennai, Chennai-Bengaluru and Hyderabad-Bengaluru where we have 48,000 acres of land for industrial allocation,” said the minister.
The aim of the road shows is to give businesses and investors a taste of what’s to come at the summit, said a press note on Friday.
” With a new policy coming up for 2023-2028 in next few days, we are aiming to create an inclusive and balanced regional development, promote startup culture and ensure skill development,” Amarnath added.
AP finance minister Buggana Rajendranath said that all the major corporations have set shop in the last few years in the state.
“Andhra Pradesh is a gateway for Asian countries for all exports and imports. In the automotive sector, corporates such as Ashok Leyland, Kia, Hero, Isuzu, Apollo, Yokohama, Bharat Forge are operating from AP. In electronics sector, we have prominent names like Bluestar, Foxconn, Daikin, Panasonic and WinTech working from here,” he said.
“It is not just Hyderabad which is a base for pharmaceuticals. Apart from host of names, we have Mylan, Biocon, Lueben, Hetero, Laures Labs, Divis Laboratories, Aurobindo Pharma, GSK, Dr Reddy’s and Apollo functioning from the state,” he added.
AP finance minister also said, “This shows that we have a perfect ecosystem for business expansion. All this reiterates AP’s Number 1 position in Ease of Doing Business for three consecutive years.”
Similar roadshows were conducted by the AP government in New Delhi, Mumbai, Bengaluru and Chennai, earlier this month.
