AP plans to realise 90% of assured investments during GIS

VIJAYAWADA: As the Andhra Pradesh government is expecting investments in the range of ₹2 lakh crore to over ₹5 lakh crore during the Global Investors Summit, it plans to realise the committed investments to the tune of 80 per cent to 90 per cent, unlike the earlier experience of only 10 per cent.

The state government is betting big on several focused sectors as several top industrialists are attending the GIS while some have already pledged their investments.

Industry department authorities maintain that as many will be signing MoUs, they will make regular follow up to ensure whatever amount either pledged or agreed to invest should be realised so that the state will get huge investments in varied sectors which in turn help industrial growth, all-around development and create jobs.

A senior official said, “We are going to make persistent efforts with industrialists, entrepreneurs and those who set up start-up firms to see that they will invest heavily in the state.”

Sources say that, unlike the earlier practice where some industrialists and entrepreneurs were attracted by Telangana and Tamil Nadu, the state government is firm in its resolve to ensure all those who find interest to invest in the state should do so without getting attracted by others. It will also take up campaigns in a big way to attract potential investors from other states and also at the international level.

Meanwhile, the state government is developing industrial infrastructure to meet the requirements of various manufacturing companies across sectors. The state has three industrial corridors like Visakhapatnam-Chennai Industrial Corridor, Chennai-Bengaluru Industrial Corridor and Hyderabad-Bengaluru Industrial Corridor apart from good infrastructure facilities.