CM Ys Jagan Mohan Reddy Welcomes Investors for Gis 2023 at International Diplomatic Alliance Roundtable Meeting
New Delhi, February 01, 2023: Addressing the International diplomatic alliance roundtable meeting hosted in Delhi, on Tuesday, Andhra Pradesh Chief Minister Jagan Mohan Reddy accentuated on how the state has ranked first in the country for ease of doing business, three times in a row. Welcoming investors for the Global Investor’s summit which will be hosted in the city of Visakhapatnam, on March 3 and 4, CM Jagan said that the event aims to showcase the State’s strengths and the plethora of available opportunities.
“Andhra Pradesh has emerged as the fastest growing state in the country with an 11.43% year-on-year GSDP growth rate during the financial year 2021-22. Owing to an industry-friendly government, robust infrastructure, and enabling policy environment, Andhra Pradesh has always been an attractive choice for businesses from across the world. When industries grow, it speaks volumes of what we do in the state. In fact, all approvals take less than 21 days, thus making it easier to do business,” the CM, noted.
CM Jagan highlighted how the industrial corridors aid in ease of doing business and magnifies the scope of scaling up the process. Hence, he announced that three industrial corridors would be constructed in Andhra Pradesh as part of the 11 being constructed in association with the Centre.
In addition, with Andhra Pradesh having the second largest coastline in India, it is leveraging its inherent maritime advantage through the development of 4 new seaports. This is in addition to the existing 6 operational ports apart from 6 airports. CM Jagan Mohan Reddy said the emphasis has been on logistics efficiency and alluring global investors.
Hailing the investment-friendly environment in the state, industrialists said the state played a major role in supporting companies during a tough time such as Covid-19. Yamaguchi, Toray Industries CEO and MD said with the support of Andhra Pradesh government, the company could start production despite the Covid constraints.
“We have had huge support from Andhra Pradesh. We have invested Rs 1,000 crore in AP and started two business units. But then Covid happened. With the support of the AP government, we started production again in June 2020. Our business plan is to invest more than double our present investment by 2030. We are expecting the AP government’s support for growing together.”
Even Roshan Gunawardhana, Director, Everton Tea India (Pvt) Ltd praised the ease of doing business in the state and the government’s handling of Covid.
“Ease of doing business is one factor that was good in AP and the support we got from the government helped us set up the units here. 99% of the employees are local. We are grateful to the officials and authorities for supporting us during covid.”
Deepak Iyer, President, Cadbury India thanked the government of Andhra Pradesh for the best single-window clearance systems in the country. “Our deepest gratitude to govt of AP for providing one of the best single-window clearance systems in the entire country. We do business across the country but AP is one of the best.”
As a testimony, Tae Jin Park, MD & CEO, of KIA MOTORS (KOREA), acknowledged Andhra Pradesh’s rich and abundant natural resources and assured economic growth. Tae noted that the ease of connectivity including proximity to major ports like Krishnapatnam and Chennai would enable KIA to sell their cars not just across India but across 95 countries in the world.
Remembering the journey of Apache in the state of Andhra Pradesh, Sergio Lee, Director, of Apache, and Hilltop Group (Taiwan) said the success of the company wouldn’t have been possible without AP’s support. It was signed by incumbent Chief Minister’s father – Shri YS Rajashekhar Reddy, the then CM. He added that with the latest technology with green energy concept, the company is looking forward to contributing to economic growth together in the state of AP.