Andhra Pradesh receives 340 investment proposals during the Global Investor Summit
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ECONOMY & POLICY

Andhra Pradesh receives 340 investment proposals during the Global Investor Summit

05 Apr 2023 Editorial Team

Andhra Pradesh recently hosted a high-profile event that highlighted the state's advantages to global business leaders. The event was attended by several dignitaries and industry leaders, who shared their insights on the state's potential for growth and development. YS Jagan Mohan Reddy...

Andhra Pradesh recently hosted a high-profile event that highlighted the state's advantages to global business leaders. The event was attended by several dignitaries and industry leaders, who shared their insights on the state's potential for growth and development. YS Jagan Mohan Reddy, Chief Minister, Andhra Pradesh, stated, “It is a proud moment to announce that the state has received 340 investment proposals with investment of about Rs 13 trillion, providing employment to almost 600,000 people across 20 sectors distributed all along the state.” The CM also pointed out the potential of the state in the renewable energy sector. “Andhra Pradesh is blessed with a large renewable energy potential of 82.5 GW. It is one of the very few states in India that has combined potential for solar, wind and pumped storage. We have also identified and set aside dedicated land parcels for wind, solar and pumped storage projects”, he stated. Andhra Pradesh is India’s gateway to the southeast with its 974 km long coastline, the second longest in the country, six existing ports, and four upcoming ports. Coincidently, it has also emerged as the fastest-growing state in India, as per the numbers released so far, with double-digit growth of 11.43 per cent in 2021-22.

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