Amaravati: Andhra Pradesh Chief Minister Jagan Mohan Reddy chose to address head-on any concerns foreign businesses may have about investing in his 10-week old government, admitting that while the state lacked "big metros like a Hyderabad, Bengaluru or Chennai", it offered a stable administration backed by a decisive mandate.
He was speaking at a one-day diplomatic outreach summit on Friday. It was attended by delegates from 30 countries and organised in partnership with the Ministry of External Affairs.
Reddy said his government had taken "revolutionary decisions" like renegotiating energy tariffs and introducing legislation to reserve jobs, reported NDTV.
"The decision to renegotiate on PPAs is being seen as highly controversial. But what is the point of a PPA when discoms are not in a position to pay your bills? Discoms are crumbling," Reddy added.
The Chief Minister also explained a bill passed last week by the state assembly to reserve 75 per cent of jobs for locals in all the industrial units in the state.
He stressed on these aspects, highlighting that with the backing of the people of the state, his government could "stand as a role model for the rest of the country".
