Andhra Pradesh has witnessed phenomenal growth in the Industries and Infrastructure sectors, apart from employment generation. In the past 55 months, over 311 major industries were set up in the State, creating over 1.3 lakh job opportunities.
As many as 386 Memoranda of Understanding (MoUs) for investments worth ₹13.11 lakh crore were signed at the Global Investors Summit (GIS). These MoUs are expected to create another 6 lakh jobs, according to a press release by Information and Public Relations (I&PR).
The MSME sector is booming, with over 3.94 lakh units set up in the State, generating employment for over 26.29 lakh people. The government initiatives helped in the establishment of 54 clusters across the State. To help MSMEs recover, the government gave an assistance of ₹2,087 crore as a ‘Restart Package’.
Recognising the importance of ports, the government gave impetus to their development which is gaining momentum with the construction of four new ports in addition to the existing six ports.
The Ramayapatnam, Machilipatnam, Mulapeta, and Kakinada Gateway ports are being constructed at a rapid pace with a cost of around ₹16,000 crore. The new ports would add 110 million tonnes of cargo handling capacity. Directly and indirectly, the ports will provide employment to 75,000 people, according to the release.
Fishing Harbors and Fish Landing centres would boost the livelihood of fishermen. Ten fishing harbours and six fish landing centres are being constructed with world-class standards at the cost of ₹3,793 crore. There will be a port or a fishing harbour for every 50 kilometres of coastline.
The new international airport at Bhogapuram, a ₹4,592 crore project, will be a growth engine for the State’s development, promising 10,000 direct and 80,000 indirect jobs. Expansion and development of Gannavaram, Kakinada, Visakhapatnam, Rajahmundry, Tirupati, Kadapa, and Kurnool airports is underway.
Andhra Pradesh attracted major investments from large, mega industries such as JSW Steel, Ramco Cement, Century Panels, ATC Tyres, Aditya Birla Garments, Dixon Technologies, Greenlam South, Laurus Labs, Infosys Development Center, etc. These investments along with those of MSMEs are expected to create employment opportunities for 33.63 lakh people.
Andhra Pradesh is among the States with the highest GSDP growth rate in the country. It has been ranked number one in India in the Ease of Doing Business (EDB) index for three consecutive years, the release said.
