Andhra Pradesh aiming for 10% share in exports, says Industries Minister Gudivada Amarnath
The Hindu
The State is exploring domestic and global investments in over a dozen sectors, including hi-tech, semicon, electronics
Andhra Pradesh wants to attract significant investments from domestic and international investors in over a dozen sectors and is targeting a 10% share in the country’s total exports, said Gudivada Amarnath, Minister for Industries, Infrastructure, Investment & Commerce, IT, Handlooms & Textiles on February 14.
Quoting LEADS Report 2022, the Minister told reporters in Bengaluru, “The State’s exports increased by 15.31% from the previous year in 2021–22, and it was recognised as an achiever among the coastal States of India. With the completion of new ports and also further development of infrastructure for last-mile connectivity, Andhra Pradesh’s share in exports could reach up to 10% of India’s total exports.”
The LEADS (Logistics Ease Across Different States) is an indigenous, data-driven index released by the Ministry of Commerce and Industry to assess logistics infrastructure, services, and human resources in India.
Mr. Amarnath said the State has approved investments to the tune of ₹1.9 lakh crore in the last 3-1/2 years. “That would go on to create employment for around 90,000 people in the State in the future,” he added.
Buggana Rajendranath, Minister for Finance, Planning, Commercial Taxes, Skill Development, Training & Legislative Affairs said, the State is building numerous plug-and-play facilities to quickly start factories and manufacturing units, supported by quality power and water supply.
“We strongly believe that reducing the time to start a business will have a significant impact on the manufacturer’s profitability,’‘ Mr. Rajendranath said.
With its 974-km long coastline, 6 existing ports, and 4 upcoming ports, Andhra Pradesh is touted to be the country’s gateway to the southeast. The State has a land bank of 48,352 acres for industrial development.
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