AP, only state creating 3 industrial corridors: Buggana Rajendranath Reddy

BENGALURU: Stating that Andhra Pradesh was the only state in the country developing three industrial corridors, Finance Minister Buggana Rajendranath Reddy on Tuesday claimed that the state would soon be known as ‘Industrial Pradesh’.

Addressing an industrial meeting in Bengaluru, also known as Bengaluru Roadshow, in preparation for the forthcoming AP Global Investors Summit in Visakhapatnam, the Finance Minister of the State said that sky was the limit for investments in Andhra Pradesh.

He said that the YS Jaganmohan Reddy-led State Government had been taking massive steps towards industrial development.

“As per NITI Aayog, Andhra Pradesh is ranked fourth in the country as far as favourable climate (social, economic and environmental criteria) for investment is concerned. The Government's priority is education, skill development, housing and medical sector,” he said while highlighting their focus on other sectors as well for allround development.

Rajendranath Reddy said that Andhra Pradesh was developing a bulk drug park. Andhra Pradesh is the only state in South India that has got a park worth over Rs 1,000 crore, he claimed.

“We will bring in the 'Inland Waterway Policy' to reduce the cost of transport within and outside the state,” the Finance Minister assured the participants.

Sunita, Andhra Pradesh Principal Secretary for Handloom and Textile Department, in her address, said that the state boasted of a strong textile ecosystem with 14,974 MSME units, 17.08 Lakh bales of cotton production and the second largest production in raw silk.

“AndhraPradesh provides numerous opportunities in green textile units and mega textile cluster development. Besides, it also provides the right combination of skilled manpower and infrastructure for the textile industry,” she said.

Sundar, Special Secretary for Industries and Textiles, said that the Andhra Pradesh IT Policy 2021-24 provided a range of incentives for employment generation, gigeconomies, certifications and more.

“The Tirupati IT Park presents a strategic location for potential investors due to its proximity to cities like Bengaluru and Chennai. AndhraPradesh offers several dedicated electronics manufacturing clusters that have available land and robust infrastructure for investors.

“AndhraPradesh encourages emerging technologies and is constantly working on building capacity for entrepreneurs,” he added.

Andhra Pradesh IT and Industries Minister Gudivada Amar Nath, APIIC Chairman Mettu Govinda Reddy, Sunitha, Andhra Pradesh Principal Secretary of Handloom and Textile Department; Sundar, Special Secretary of IT and Electronics; Srijana, Director of Industries Department; Sridhar Reddy, CEO of Andhra Pradesh Food Processing Society and Rabindranath Reddy, Deputy CEO of AP Maritime Board were among the delegates from Andhra Pradesh who participated in the event.