Andhra Pradesh: Industrial growth, investor confidence at record high, says chief minister

TDP, aided by friendly media, embarked on smear campaign against government, says Jagan

TDP, aided by friendly media, embarked on smear campaign against government, says Jagan

Investor confidence and industrial growth in the state are at an all-time high, Chief Minister YS Jagan Mohan Reddy said, dismissing criticism of the Telugu Desam party as a ‘smear campaign launched with the help of friendly media “.

“Despite the COVID-19 pandemic that shook the world, investor confidence had remained high in Andhra Pradesh and industrialists are happy. AP leads the country in Ease of Doing Business (EoDB) for the third year in a row. In the EoDB rankings, 100 points are scored for the opinion of industrialists, and all have given positive feedback on the investor-friendly policies in our state. Even then, the TDP and the highly polarized media do not have not stopped spitting venom,” Mr. Jagan Mohan Reddy said during a Monday Assembly discussion on industries and investments.

Referring to “CAG data”, the prime minister said that state finances are in good shape.

Mr. Jagan Mohan Reddy started his address by stating that the Center has come forward to award a bulk pharmaceutical industry grant of ₹1,000 crore for which 17 states competed. “The Center has only assigned three bulk pharmaceutical industries, one of which has been assigned to AP while the other two have been assigned to Gujarat and Himachal Pradesh,” Mr Jagan Mohan Reddy said.

“Meanwhile, TDP Chairman N. Chandrababu Naidu and his party leaders have written to the Center asking them to cancel the proposal. The leader of the TDP, Yanamala Ramakrishnudu, wrote a letter to the Center about this, indicating the level to which the TDP has sunk. Mr. Naidu, during his tenure as Chief Minister, had instigated Divi’s Pharma Company. How does he now raise the issue of pollution? The Center provided a grant of ₹1,000 crore so that an alkali processing plant could be set up. The factory can generate 30,000 jobs and yet the TDP is trying to block the project,” said Mr. Jagan Mohan Reddy.

Stating that the investment garnered in Davos where he traveled to attend the World Economic Forum (WEF) summit earlier this year exceeded the aggregate investment that came to the state during the TDP’s rule, Mr. Jagan Mohan Reddy said he wanted to ensure that all sections of the state prosper regardless of caste or party affiliation. “Mr Chandrababu Naidu and his men forced people to dress up and sign fake MoUs,” Mr Jagan Mohan Reddy alleged.

“Our government is focusing on the MSME sector which provides direct and indirect employment to 12,000 people. We have provided industrial incentives worth ₹2,858 crore, of which the MSME sector alone got ₹2,500 crore, of which ₹2,200 crore are dues that have accrued since Mr. Naidu was Chief Minister . We have given incentives for these industries to work and provide jobs,” Mr. Jagan Mohan Reddy said.

Over the past three years, 99 industries have been scaled up in the state with an investment of ₹46,280 crore providing jobs for 62,541 people, and an additional 40,000 jobs are said to be generated through four central government PSUs which would soon be created, he said. Discussions for the creation of 10 major industries are underway, he said, adding that investments have started to come in as the state government has managed to inspire confidence among investors by ensuring transparent administration.

“Like never before, captains of industry like Tatas, Birlas, Adanis and other big companies have started looking to Andhra Pradesh and coming to invest in the state,” he said.

The YSR electronics manufacturing cluster and the upcoming industrial mega hub in Kopparthi and the Jammalamadugu steel mill will provide jobs for locals and raise living standards. The state government is helping young people gain real-world job skills through skills development, he said.


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