The Andhra Pradesh government showcased its rich natural resources, land bank, large investments in infrastructure, and intensive reforms in rules and regulations at the investors meeting held on Tuesday in Bengaluru.


According to an IANS report, Andhra Pradesh's Investors Meet in Bengaluru, held in advance of its "Global Investors Summit 2023," offers 48,352 acres of land bank for industrial development, as well as ready-built infrastructure to shorten the time needed to set up new facilities.


 The event is one of many such gatherings planned in the run-up to the Global Investors Summit on March 3–4 in Visakhapatnam.


Speaking on the occasion, Andhra Pradesh Finance Minister Buggana Rajendranath assured the investors of the fast-paced implementation of projects in the state.


"We strongly believe reducing the time to start a business will have a significant impact on the manufacturer's profitability. The state is building numerous plug-and-play facilities that will have ready-built factory sheds with quality power and water supply and help speed up the setting up of manufacturing units," said Buggana, as quoted by IANS.


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Gudivada Amarnath, Minister of Information Technology and Industries, emphasised Andhra Pradesh's export potential. Amarnath said, "According to the LEADS Report 2022, the state's exports increased by 15.31 per cent from the previous year in 2021-2022, classifying it as 'Achievers' in the coastal states. With the completion of new ports and also further development of infrastructure for last-mile connectivity, the state's share in exports can reach up to 10 per cent of India's total exports."


In the last three and a half years, the state has approved investments worth Rs 1.9 lakh crore, according to Amarnath."This would create employment for approximately 90,000 people in the state in the future," he added.


Key officials from various departments, ministries, and state government institutions had open interaction with the investing community in Bengaluru.


Manufacturing, food processing, ports, IT and electronics, handlooms, and textiles all drew a lot of attention at the event.


(With IANS inputs)