AP attracts 57,000 crore investments, 31,010 increase in per capita income

VIJAYAWADA: Industries Minister Gudivada Amarnath said in the state assembly on Friday that investments of Rs 57,000 crore are coming to AP and the government is promoting MSMEs in a big way for industrial development.

During a short discussion on ‘Industrial development, investments and financial growth in the state’, the minister refuted the allegations of Telugu Desam that AP was turning into “another Sri Lanka”. “AP is recording the best industrial growth by attracting investments,” he asserted.

Amarnath said the Opposition is trying to spoil the brand image of the state and have been attempting to stall industrial growth. The government is committed to all-round growth and development. The GSDP is 11.43 % at constant prices during 2021-22, higher than the national GDP of 8.9%, he said.

He said the per-capita income of the state increased to Rs 2,07,771 in 2021-22, as against Rs 1,76,707 in 2020-21 at current prices with a jump of Rs 31,010 in a year, while the national Average stood at Rs 1,49,848.

“Andhra Pradesh has got the ninth place in the overall ranking as per the export preparedness index 2021 released by Niti Aayog. AP has improved its performance on various indicators and rose to the 9th place during 2021 from the 20th rank in 2020. Another achievement is AP stood second in 2021, next to Gujarat, in the exports performance (vis-à-vis its  contribution to GDP) pillar, from the 27th position in 2020.”

Regarding Ease of Doing Business, Amarnath said this is a major policy initiative of the central government in collaboration with the World Bank. The government intends to make India one among the top 50 nations globally in terms of Ease of Doing Business.

He said India has emerged as an attractive destination for doing business. India jumped to the 79th position now from the 142nd in 2014 and the 63rd in 2019 in ‘World Bank’s Ease of Doing Business Ranking 2020.

“It is a matter of pride that AP has topped the Business Reform Action Plan (BRAP) 2020-21 rankings under the Ease of Doing Business for the second consecutive time, based on a 100 per cent perception survey and has scored 97.89 per cent (highest in India) in the evaluation by the Department for Promotion of Industry and Internal Trade (DPIIT).”

Regarding business friendliness and service delivery efficiency, over 90 industry-specific services delivered through AP’s single desk portal with 98 per cent efficiency and more than 140 services notified under the AP public service delivery guarantee act with an average delivery timeline of 21 days and service delivery with no physical touchpoints, he said.

About investment and employment generation, the minister said, “As per the DPIIT report, AP stands as India’s top investment destination for 2022 (Jan-July) with Rs 40,361 crore of investments realized /materialized in the state, accounting to 23.56 per cent of India’s total industrial investments of Rs 1,71,285 crore.

As per the 2021 DPIIT ranking, the Chittoor-Nellore region figures in the top-10 manufacturing destinations in the country, attracting domestic and international investors alike. During June 2019-August 2022, the investment inflow has been robust with a total realized investment of Rs 56,168 crore and these created employment opportunities for 2,93,898 people in  large and mega industries, MSMEs and IT companies.”