Amaravati, February 26: Andhra Pradesh hosted an investment drive in Mumbai on February 20, 2023, as part of its efforts to attract businesses and investors to the upcoming Andhra Pradesh Global Investment Summit (GIS) 2023. The state went all out to highlight its strengths as part of its ongoing efforts to attract investors through investment drives. AP Global Investors Summit 2023: Andhra Pradesh Has 48,000 Acres on Offer for Industries, Says Minister Gudivada Amarnath Ahead of GIS.

The summit provided an 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. Andhra Pradesh CM YS Jagan Mohan Reddy Launches Tourist Police Stations at 20 Religious, Tourist Destinations.

Advantages of Investing in Andhra Pradesh:

  • The state takes pride in being the 8th largest state in India spread across

    162,968 sq. km with 48,000 acres of land set aside for industries. It also has 974 km of coastline, the second longest, in India.

  • The south Indian state has a 1.2 million Telugu Diaspora – 2nd largest Indian linguistic diaspora abroad.

  • Andhra Pradesh is well-known for its large manufacturing base, excellent infrastructure, business-friendly environment, and pool of talented, skilled young people. The state boasts 70 percent of the working-age population.

  • According to the official website of the Andhra Pradesh Global Investors Summit website, the state had $90.31 billion GSDP in the fiscal year 2021-22. The state also had an 11.43 percent Double-Digit Growth Rate in 2021-22.

  • The website also claimed that at least 25% of the IT workforce and Indians in the US are from Telugu Community.

  • The Telugu state is considered India's gateway to the east as it has 6 existing ports and 4 new ports under development. It also has 6 existing airports and 1 green field aeropolis under development.

  • The state has consistently ranked first in Ease of Doing Business (EoDB) for the last three years, which is significant given that this survey is based on stakeholder feedback.

  • The YS Jagan Mohan Reddy-led state has a favourable business environment and industry-focused policies, as well as a proactive government guiding the state.

The next summit, set to take place in Visakhapatnam on March 3 and 4, will showcase the state's strong industrial base, robust presence of MSMEs and start-ups, and investor-friendly atmosphere under the theme of "Advantage Andhra Pradesh – Where Abundance Meets Prosperity".

(The above story first appeared on LatestLY on Feb 26, 2023 03:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).