Single desk portal to provide one-stop digital platforms for investments in AP

HYDERABAD: Andhra Pradesh Government to provide a one-stop digital platform for all domestic and foreign investments through its Single Desk Portal.

Andhra State aspires to reduce the cost and risk of doing business by providing best-in-class facilities, hassle-free setup, qualified manpower, and end-to-end hand-holding help for units.

The successful industry meet was hosted in Hyderabad on Friday by the government of Andhra Pradesh as part of the preparations for the Global Investors Summit 2023, which is slated for March 3rd and 4th, 2023 in Visakhapatnam.

Andhra Pradesh state is showcasing its rich natural resources, large investments in infrastructure and land bank, and intensive reforms in rules and regulations at a successful investors meeting in Hyderabad. These efforts, taken together, position Andhra Pradesh as the state where abundance meets prosperity.

Speaking at the event, Gudivada Amarnath, Minister for Industries, Infrastructure, Investment & Commerce, Information Technology, Handlooms & Textiles, Andhra Pradesh, said that they had a very positive response so far in the cities of New Delhi, Mumbai, Bengaluru and Chennai. “I believe that such industry meets can enhance collaboration and synergy throughout the nation's business community,” he said.

Calling the city of Hyderabad very dear to the people of Andhra Pradesh, Amarnath said, “This is the city where North India meets South India, Biology meets Technology and Life Sciences marries Data Sciences".

The Minister also pointed out similarities between Hyderabad and Visakhapatnam, the venue of the summit; he said that Visakhapatnam has always been a strong industrial hub, with its PSU base, port-led infrastructure and sector strengths especially in IT, pharmaceuticals, medical equipment, textiles, steel, heavy industry and defence. “Vishakhapatnam is the largest city in Andhra Pradesh and will serve as its administrative headquarters in months to come,” he said.

The Government of Andhra Pradesh aims to minimise the cost and risk of conducting business; make the regulatory environment more business-friendly by offering best-in-class facilities, hassle-free setup, skilled talent, and end-to-end hand-holding assistance for units.

Amarnath also said that, the government would shortly introduce a forward-looking Industrial Policy in a new avatar with emphasis on driving economic growth across key focus sectors, promoting port-led industrial development, end to end Investor facilitation skilling and employment generation, promoting entrepreneurship and startup culture, inclusive and balanced regional development.

“We would provide a one-stop digital platform for all domestic and foreign investments through our Andhra Pradesh Single Desk Portal. The business-specific approvals for setting up the business are granted within a maximum timeframe of 21 days,” he added.

Buggana Rajendranath Reddy, Minister, Finance & Planning, Commercial Taxes, Legislative Affairs, Skill Development & Training, Government of Andhra Pradesh, who is also a driving force at the roadshows across the country was also present and stated at the meet that the state is spending a significant amount of its budget on developing air connectivity in the state, with a greenfield international airport coming up at Bhogapuram near Visakhapatnam at a cost of Rs. 2,500 Crores (USD 300 Million)

“AP has 888 km of national waterway within the state. We intend to develop Inland Waterways, which will reduce the cost of logistics for moving cargo within and outside the state. 27 locations have been identified as prioritized terminals. The waterways will have the potential to handle 10 MT by 2029, which will reduce the cost of logistics and push exports for the state,” said Rajendranath.

The ministries, state government institutions and officers from various departments had an open interaction with the investing community in Hyderabad today. Promising to handhold potential investors and facilitate the fastest turnaround time. The presentations showcased the present and upcoming infrastructure and the conducive policy environment of the state. Agriculture, agro-based industries, maritime sector, manufacturing, food processing, ports, IT and electronics, handlooms, and textiles sectors attracted significant interest at the event.

Andhra Pradesh is India’s gateway to the southeast with its 974 km long coastline, the second longest in the country, 6 existing ports, and 4 upcoming ports. Coincidently, it has also emerged as the fastest-growing state in India, as per the number released so far, with double-digit growth of 11.43 percent in 2021-22. The state has embarked on a rapid growth path under the able leadership of Y.S. Jagan Mohan Reddy, Chief Minister. Thanks to the governance reforms and formulation of investor-friendly policies by the government, the state has emerged on top in terms of ease of doing business (EoDB) for three consecutive years.

Consistent improvement in the governance framework to create hassle-free investing is augmented by hard infrastructure. The improvements have been duly recognised and the state has received various awards over the last one year alone. To name a few the LEADS award for logistics 2022, the Inertia Award for Energy 2022, the ET award for port-led and the infrastructure project 2022.