Report: This Year AP Tops India In Investments

Lately Andhra Pradesh is attracting huge investments and till July month, the state topped the investment charts. According to a report from the central Department for Promotion of Industries and Internal Trade, issued for July, 2022, AP received investments worth Rs 40,361 crore in the first seven months this year.

For the same period, the country received Rs 1,71,285 crore investment. From January to July, AP government has signed deals for setting up of five electrical equipment, 19 for chemicals, 1 metallurgical unit, 13 commercial and household equipment units, 2 fuels-related units, 18 for fertilizers-18, 27 food processing units, seven transportation units, 23 textiles firms, 24 paper and pulp units, 35 cement and gypsum units, 12 mechanical and engineering units, 38 miscellaneous industry units and 26 fermentation units.

Last week the AP government cleared the proposals for investment worth Rs 1,26,748 crore and this is the biggest investment clearance ever the YCP government has nodded for. This investment could provide just over 40,000 employment to the qualified in the state.

The report from the government of India showed that after AP, Odisha stood second by receiving Rs 36,828 crore investment. Both AP and Odisha account for 45 percent of investment that attracted in the first seven months.

The YCP is pretty optimistic on these investments and added that these investments could lead the state’s progress and is crediting the efforts of AP CM Jagan.