Andhra Pradesh to host investment drive to attract businesses, investors
1 min read . Updated: 18 Feb 2023, 01:44 PM IST
PremiumAndhra had the highest double-digit GSDP growth rate in the country in 2021-22, at 11.43%. It also has maritime infrastructure, as it is India’s gateway to southeast Asia, with 974 km of coastline, the second longest in the country, 6 existing ports, and four upcoming ports
New Delhi: The Andhra Pradesh will host an investment drive in Mumbai on 20 February, as part of its efforts to attract businesses and investors to the upcoming Andhra Pradesh Global Investment Summit (GIS) 2023. The event in Mumbai follows successful events held in Chennai and Bengaluru which were preceded by a curtain-raiser event in the national capital
The investment drive in Mumbai is designed to give businesses and investors a glimpse of the opportunities available in Andhra Pradesh. The upcoming summit, set to take place in Visakhapatnam on 3-4 March will showcase the state’s strong industrial base, robust presence of MSMEs and startups, and investor-friendly atmosphere under the theme of “Advantage Andhra Pradesh - Where Abundance Meets Prosperity."
Andhra Pradesh is widely regarded as a key player in the Indian economy, due to its sizable manufacturing base, impressive infrastructure, business-friendly policies, and skilled and talented young population.
The GIS will provide in-depth analysis of critical industries such as IT, manufacturing, pharmaceuticals, automobiles, tourism, and energy. The conference will give attendees the opportunity to network and engage with key investors, influential industry leaders, and government officials, as well as explore the diverse range of investment opportunities available throughout the state.
The Mumbai investment drive will be attended by Andhra Pradesh Industries Minister G. Amarnath, Andhra Pradesh Finance Minister B. Rajendranath, APIIC chairman Mettu Govinda Reddy, APIDC chairman Bandi Sivasakthi Nagendra Punyasheela, amongst other dignitaries.
This drive will allow businesses and investors to network with key decision-makers and explores investment opportunities in Andhra Pradesh. The event will include keynote addresses on investment opportunities in the state from industry leaders and government officials.
Andhra Pradesh has consistently ranked first in Ease of Doing Business for the last three years, which is significant given that this survey is based on stakeholder feedback.
According to the numbers released thus far, it had the highest double-digit GSDP growth rate in the country in 2021-22 at 11.43%. It also has maritime infrastructure, as it is India’s gateway to the southeast, with 974 km of coastline, the second longest in the country, 6 existing ports, and four upcoming ports. It has a favourable business environment and industry-focused policies, as well as a proactive government guiding the state.
Three of the country’s 11 industrial corridors are being built in Andhra Pradesh. To name a few, the state has received the LEADS award for logistics 2022, the Inertia Award for Energy 2022, the ET award for port led, and the infrastructure project 2022.