Andhra Pradesh On Top With Rs 40.3-Crore Investments Since January 2022: Report

Andhra Pradesh and Odisha combinedly bagged 45 per cent of total investment, DPIIT Report said

Andhra Pradesh CM YS Jagan Mohan Reddy

Andhra Pradesh tops the charts for attracting maximum industrial investment in the country. Andhra Pradesh has attracted investments from several tech giants in the first seven months of 2022, said Jagan Mohan Reddy.

The latest statistics of the Department for Promotion of Industries and Internal Trade (DPIIT), a central government agency, revealed that by the end of July, India got an industrial investment worth Rs 1,71,285 crore. Andhra Pradesh topped the list with Rs 40,361 crore, followed by Odisha with Rs 36,828 crore.

Andhra Pradesh and Odisha combinedly bagged 45 per cent of total investment, DPIIT Report said.

Earlier this month Andhra Pradesh Cabinet chaired by Chief Minister Jagan Mohan Reddy, cleared investment proposals worth ₹1,26,748 crore. The investments are expected to create direct employment for over 40,330 people in the next seven years.

The cabinet has also approved the SIPB approval of a proposal from Causis E-Mobility for an investment of Rs 386.23 crore on an electric bus-manufacturing unit at Kopparthy in the YSR district. Of the total, Rs 81,000 crore would be invested in green energy projects that would generate 17,930 MW of power. In Andhra Pradesh, the project is anticipated to generate around 1,200 new jobs.

The cabinet has cleared the proposal to release funds under the 'YSR Cheyutha' scheme, which aims at equipping women of SC/ST/OBC/minorities. For women between the ages of 45 and 60, a financial reward of Rs 75,000 would be given over a period of four years. Additionally, the cabinet meeting approved the idea to extend the Bhavanapadu port.

(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com/)