Andhra Pradesh Tops In Attracting Industrial Investments in 2022!

The Department for Promotion of Industries and Internal Trade (DPIIT) of the Union Ministry of Commerce has revealed in the latest statistics that investments worth Rs.44,286 crore have been realized in AP from January to September 2022.

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Highlights:

• Investments of Rs.44,286 crores have been realized in nine months
• 20 percent of the country's investments are from Andhra Pradesh
• Next in the list are Odisha, Maharashtra and Gujarat
• 70,000 people will be employed in AP as the units start production
• AP attracted another investment of Rs.13,516 crore
• Production started from 2020 with an investment of Rs.64,476 crore
• In three and a half years, 1,08,206 MSME units have been set up, investments of Rs.20,537.28 crores, more than 10 lakh people have been employed. 
• Preparations are underway for the foundation stone laying of 20 more mega projects in the next two months

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A total of 70,000 people are estimated to be employed through these projects. It is noteworthy that Andhra Pradesh stood first with 20 percent of the investments worth Rs. 1,99,399 crore in the nine months from last January. Odisha, Maharashtra and Gujarat are at the next positions respectively.

Production in 129 units from 2020
Prominent companies that started production in the state this year include ATG Tyres, Natco Pharma, Greenco Solar, Isuzu, Indus Coffee, Ruchi Soya, Sembcorp, Coromandel, Premium Electric, NGC Transmission, Vishnu Barium. From January 2020 to September 2022, DPIIT statistics reveal that by starting the production of 129 units in Andhra Pradesh, investments worth Rs. 64,476 crores have come into actual form.

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Another new investment of Rs.13,516 crores
During the first nine months of this year, 37 new units have started production in the state. Through these, another investment worth Rs.13,516 crore will come into the state. From January 2020 till now 143 new units have started construction work in the state and through these total investments worth Rs.32,616 crores will come into the state. Companies like Grasim, Century Play, Munoth Industries, TTE Electronics, ITC, Bluestar, Havells are among the companies that have started new production in the state.

Single window permissions
Industries Minister Gudivada Amarnath said that Chief Minister Jagan is granting all the permissions in a single window system from the proposal to the start of production. He reminded that the corporate giants themselves are appreciating the initiative of the state government. He said that Andhra Pradesh stood first in the Ease of Doing Business rankings announced by the survey for the third year in a row due to the full support provided to the industries.

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Employment of 10.04 lakh people with MSMEs
The state government is promoting micro, small and medium scale industries on a large scale. This is evidenced by the establishment of 1,08,206 units in the state in three and a half years. Through these, investments of Rs.20,537.28 crores were received and 10,04,555 people got employment. The state government is not only paying the Rs.962.05 crore owed by the previous government without giving industrial incentives, but is also paying subsidies in the same year.