AP attracts 57,000 crore investments, 31,010 increase in per capita income

VIJAYAWADA: Industries Minister Gudivada Amarnath told the state assembly on Friday that investments of Rs 57,000 crore will come to AP and the government is promoting MSMEs in a big way for industrial development.

During a brief discussion on ‘Industrial Development, Investments and Financial Growth in the State’, the Minister refuted Telugu Desam’s accusations that PA was becoming “another Sri Lanka”. “AP is registering the best industrial growth attracting investment,” he asserted.

Amarnath said that the Opposition is trying to spoil the state’s brand image and has been trying to stop industrial growth. The government is committed to comprehensive growth and development. GDP is 11.43% at constant prices during 2021-22, higher than the national GDP of 8.9%, he said.

It said the per capita income of the state rose to Rs 2,07,771 in 2021-22, up from Rs 1,76,707 in 2020-21 at current prices with a jump of Rs 31,010 in a year, while the national average stood at 149,848 rupees.

“Andhra Pradesh is ranked 9th overall according to the Export Readiness Index 2021 released by Niti Aayog. AP has improved its performance in several indicators and moved up to 9th place during 2021 from 20th in 2020. Another achievement is that AP ranked 2nd in 2021, together with Gujarat, in export performance (vs. its contribution to GDP). ), from position 27 in 2020”.

Regarding the ease of doing business, Amarnath said that this is an important political initiative of the central government in collaboration with the World Bank. The government intends to make India one of the top 50 nations in the world in terms of ease of doing business.

He said that India has become an attractive destination for doing business. India jumped to 79th position now from 142nd in 2014 and 63rd in 2019 in the World Bank’s ease of doing business 2020 ranking.

“It is a source of pride that AP has topped the 2020-21 Business Reform Action Plan (BRAP) ranking under the Ease of Doing Business for the second time in a row, based on a 100 percent perception survey and scored 97.89 per cent (highest in India) in the assessment of the Department for the Promotion of Industry and Internal Trade (DPIIT)”.

With respect to business ease of use and service delivery efficiency, 90+ industry-specific services delivered through AP’s single desktop portal with 98% efficiency and 140+ services reported under the law of guarantee of provision of public services of AP with an average term of delivery of 21 days and provision of services without physical points of contact, he said.

On investment and job creation, the minister said, “According to the DPIIT report, AP stands as India’s top investment destination by 2022 (Jan-July) with Rs 40,361 crore of investments made/materialized in the state, accounting for 23.56 per cent of India’s total Industrial Investments of Rs 1,71,285 crore.

According to the 2021 DPIIT ranking, the Chittoor-Nellore region is listed in the top 10 manufacturing destinations in the country, attracting domestic and international investors alike. During June 2019-August 2022, investment inflow has been strong with a total investment made of Rs 56,168 crore and this created employment opportunities for 2,93,898 people in large and mega industries, MSMEs and IT companies ”.

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