AP govt launched a special incentive programme for the new investors at GIS

Staff Reporter

Visakhapatnam: The Andhra Pradesh government has identified 14 sectors for major investments and these would be highlighted at the Global Investors Summit in Visakhapatnam on March 3 and 4.

These are the aerospace and defence, agriculture and food processing, automobile and electric vehicles, electronics and IT, renewable energy, petroleum and petrochemicals, healthcare and medical equipment, industrial and logistic infrastructure, skill development and education, MSME startups and innovation, textiles and apparel, tourism and hospitality, pharmaceuticals and life sciences, and higher education.

Industry sources and 7,500 delegates have registered their names for participation. Representatives from 25 countries were also expected to attend the two-day event 

Visakhapatnam having rail, road network, railways, air and water ways is most ideal for investment in giant sectors. The district has a land bank of 48,352 acres, officials said.

Of the total GDP, Visakhapatnam gets 55 per cent from the service sector, 35 from industries and 10 per cent from agriculture. The per capita income in Visakhapatnam is Rs 1,70,215.

The AP government has launched a special incentive programme for the new investors. This includes an incentive package for investors in the YSR Jaganana Mega Industrial Hub at Kopparthi, special incentives for SC, ST and backward caste entrepreneurs under the YSR Jagananna Badugu Vikasam, a textile, apparel and garment policy 2018-2023, the Andhra Pradesh Retail Park policy 2021-2026 and the Andhra Pradesh Logistics Policy 2022-2027.

A senior officer from the industry department said the government has so far established 108 large industries with an investment of Rs 53, 944 crore, creating an employment strength of 71,056.

The industries that have begun their operations include ATC Tyres, Apollo Tyres, Ramco cements, KIA Motors and Hero Motors etc.

“During the last three years, 1,32,692 units were established with an investment of Rs 17,673 crore, which created an employment roll of 9,99,030,’’ officials said

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