Andhra Pradesh tops India in attracting investment, gets Rs 40,361 cr till July

Vijayawada: Andhra Pradesh has become India’s top industrial investment destination. It attracted investments worth Rs 40,361 crore in the first seven months this year -- against the Rs 1,71,285 crore actual investment the country received during this period.

According to a report from the central Department for Promotion of Industries and Internal Trade, issued for July, 2022, AP bagged the largest share of investments, followed by Odisha with Rs 36,828 crore.  Both AP and Odisha accounted for 45 per cent of the entire investment inflow to the country this year.

Last week, the AP cabinet cleared proposals for investment worth Rs 1,26,748 crore. These projects, once ready, would generate direct employment to over 40,330 people in the next seven years, the government claimed.

The industries proposed for AP from January to July are as follows: five deal with electrical equipment, 19 for chemicals (except fertilizers), 1 metallurgical unit, 13 commercial and household equipment units, 2 fuels-related units, 18 for fertilizers-18, 27 food processing units, seven transportation units, 23 textiles firms, 24 paper and pulp units, 35 cement and gypsum units, 12 mechanical and engineering units, 38 miscellaneous industry units and 26 fermentation units.