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Andhra Pradesh tops the list in terms of investments in the country
Chief Minister YS Jagan Mohan Reddy is prioritising public welfare and development in the state and encouraging the establishment of large-scale industries.
Chief Minister YS Jagan Mohan Reddy is prioritising public welfare and development in the state and encouraging the establishment of large-scale industries. Apart from attracting new investments, the planned measures taken by the state government so that the industries can start production quickly are bearing good results. The latest statistics of the Department for Promotion of Industries and Internal Trade (DPIIT), a central government agency, revealed this.
It is learned that in the three months from January to March this year, investments of Rs.19,409 crores have materialised in the state with 15 industries have started production. The industries include Nova Air, Tarak Textiles, THK India, Kisan Craft, and Tarakeswara Spinning Mill.
During the same period, investments worth Rs.65,929 crore have materialized through 221 units across the country. According to DPIIT statistics, 29.4 percent of these are from Andhra Pradesh alone. In Maharashtra, which is considered to be the largest industrial state, the actual investment in these three months was only Rs.11,882 crores. All other states are far behind in this regard. Contracts for 15 units worth Rs.4,939 crore have been signed in the state within these three months.
On the one hand, the representatives of Novaair told that the construction started in December 2020 and the work was completed within 11 months with the support of the state government, despite the difficulties of Covid. "Due to this, 250 tonnes of oxygen has been made available to the people of the state," he said.
It is said that in the last 27 months, 104 new units have started production in the state through which investments worth Rs. 39,599 crores have been made. Also, 12 units have newly entered into an agreement with the state government by which another investment worth Rs. 24,039 crore will come to the state.
State Industries Minister Gudivada Amarnath said that CM YS Jagan is taking all steps to promote industries and providing support to companies in the state through YSR AP One. He said that due to this, industrialists have gained confidence in the state government and are coming forward to invest.
According to DPIIT, any company shall file an Industrial Entrepreneur Memorandum (IEM) Part-A at DPIIT after entering into an agreement with the State Government to set up a unit. Those companies will file the IEM Part B immediately after starting commercial production. Based on these, the central government calculates the investments that have come into the country.
