Kolkata: Merchants’ Chamber of Commerce & Industry organized a Special Session on “Destination Andhra Pradesh – A Land of Opportunities” on August 20, Friday in Kolkata.
Addressing the Session, J.V.N. Subramanyam Vice Chairman & MD, Andhra Pradesh Industrial Infrastructure Corporation (APIIC); Commissioner, Dept of Industries, Commerce & Export Promotion; CEO, Andhra Pradesh Economic Development Board dwelt upon the following advantages of Andhra Pradesh as an Investment Destination :
a. Seamless Governance : Ranked No 1 in Ease of Doing Business, with 99.03% SLA compliance, average days of all approvals : 11 days
b. Proximity to Skilled Labour : Abundant skill availability (50,000+ avg) within 20-35 kms of all Industrial Parks, reducing Housing and Transportation costs
c. Skill Development Programmes : Partnership with AP Skill Development Corp for skilling programs of employees, there-by reducing cost towards skilling
d. Conducive industrial Policies, complementing PLI schemes including A P Industrial Development Policy 2020-2023, A P IT & Electronics Policy 2021 – 2024 and others
e. Proximity to R & D Hubs & Markets : Land parcels abutting international airport and Proximity to mega cities of Karnataka, Telangana and Tamil Nadu; Strategically located with the longest coast line (972 kms), gateway to the East
f. E C Cleared Land at Low Cost/ Developed Infra : 50-60% lower Land prices (INR 30-50 lakhs per acre) compared to other states; EC/ Statutory cleared lands parcels; Plug & Play with available Trunk infra
g. Lower Power Cost : 40-45% cheaper Power Cost INR 4.5-6.5 per unit, compared to other states; Power surplus state with 21 GW capacity
h. Lowest Water Cost : 1000 MLD Industrial Bulk Water allocated to Industrial Corridors and Parks; 45% cheaper Water Cost INR 50-55 per KL, compared to other states
i. Vendor Base & Supply Chain Linkages : Presence of key raw materials such as Steel, Copper, Graphite, Nickel, etc ; Home to major MNCs from South Korea, Japan, Taiwan driving EV adoption; Proximity to Energy Storage markets – 10 GW Ultra Mega Solar Projects and 17.8 GW of Renewable Energy Exports; Proximity to downstream supply-chain companies in Battery and Cell making
Stressing on promotion of industrialization and Environment & Social Governance (ESG) as the primary objectives, Krishna G. V. Giri Exec Vice Chairman, Andhra Pradesh Economic Development Board (APEDB); Advisor-Industries, Govt. of Andhra Pradesh said that since May 2019, 65 mega & large projects have been implemented with 1,38,000 MSMEs having an investment of Rs. 34,000 cr. Providing employment of 1,30,000 people.
Earlier, in his Welcome Address, Aakash Shah, President, MCCI mentioned that the objective of the Session is to explore new opportunities of engagement between Andhra Pradesh and West Bengal. While Andhra Pradesh has been registering a GSDP growth rate of 11.5% over the last decade, West Bengal has also been growing at approximately 10% during the same period. Even under the COVID duress, both states have managed to maintain positive growth rates despite the severe challenges. He pointed out that Andhra Pradesh, the 8th largest state in the country, rich in agrarian, natural and mineral resources, has embarked on a journey of sustainable development with focus on inclusive growth. Andhra Pradesh is currently ranked No.1 in the DIPP ranking on Ease of Doing Business (EODB) among States in India with the key focus areas of investments being Agro and food processing, Textiles and apparels, Automobile and auto components, Mineral based industries and Petro-Chem sector. West Bengal has a rich industrial base and the state accounts for approximately 14% of all MSMEs in the country, making it the second largest state in terms of MSMEs, he noted.
The Session was moderated by Mamta Binani, Chairperson, MCCI Council on Legal Affairs, which ended with a hearty Vote of Thanks by Anirudh Jhunjhunwala, Chairman, Council on Industry, MCCI.