During the term of the previous YSRCP government, a vast majority of domestic and international investors abandoned Andhra Pradesh. The present coalition government is working energetically to get back the ones who have gone and also to attract new ones. This week, Minister Nara Lokesh went to the United States and interacted with potential investors in San Francisco and marketed Andhra Pradesh as an ideal destination for business.
He had presentations on discussions with American industrialists, especially those that are shifting from India to the State of Andhra Pradesh, focusing on the gains that one reaps after investing in Andhra Pradesh. He notes the transport infrastructure of the state is excellent, particularly with water, road, and air connectivity, which cannot be rivaled by any other state. He added that Andhra Pradesh boasts having road access along approximately 1,000 kilometers of coastline, which is ideal for many business ventures.
Lokesh says that the Amaravathi capital region is envisaged as a great growth area, where there are $3 billion of public sector investments and $4.5 billion of private sector investment allocations for construction and development projects. He spoke about new greenfield ports that are supposed to come up in Machilipatnam, Ramayapatnam, Kakinada, and Mulapeta.
Looking ahead, Lokesh shared that Bhogapuram International Airport will come up in the next one and a half years; when completed, this is going to herald big time economic activities in the place. The plan is to establish AI University in Amaravati as well, which would provide a talented workforce for the ever-bursting AI industry in the state.
Minister Lokesh motivated the investors to come to Andhra Pradesh by promising them good business conditions there and opportunities to be developed for growth and innovations.
