Investments likely to pick up momentum in Andhra Pradesh

VIJAYAWADA:  More investments are expected come to the State as many leading companies are keen on opening shops in AP to tap its growth potential. 

With India on its way to becoming the second largest economy in the next two to three decades, a few States in the country will stand to benefit and AP is top on the list, sources said. 

Many global investors, especially from Korea, Japan and China, are keen on investing in the State thanks to its growth potential and demographic advantage (AP has second largest coastline among Indian States — 974 km).

Admitting that there was a dilemma in a section of investors for the last two months on the priorities of the new YSRC government, an official told TNIE that such doubts have been cleared and many global investors are planning to make AP their destination.   

The official said that ZTT Group, a leader in optical fibre communication which is investing Rs 500 crore in Andhra Pradesh, says business-friendly policies, infrastructure growth and steady investment climate make AP an ideal investment destination. 

“Linfox Logistics, one of the largest privately-owned supply chain companies in Asia Pacific, has a very positive outlook and renewed expectations from Andhra Pradesh and it is looking forward to contribute towards AP’s growth. China Electronics Technology Corporation, a Fortune 500 Company which started operations in AP last year, is also planning to invest more in the State,” sources said. 

Companies, which are studying the on-going trade war, are also contemplating to make Andhra Pradesh their manufacturing hub owing to ease of doing business, financial penetration, policy focus and measures for skill development.