Andhra Pradesh is one of the fastest growing states in the country with a Gross State Domestic Product growth rate of 11.43 per cent and a paradise for investments, Chief Minister YS Jagan Mohan Reddy said on Tuesday.
Elaborating on the facilities and resources available in the state for industrial growth, Jagan in his address to industry representatives and the International Diplomats Alliance Meet said out of the eleven industrial corridors being developed by the Centre across the country, AP shares space for three of them.
“It gives immense pleasure to me to announce that Andhra Pradesh is the fastest growing in the country with an 11.43 % growth rate, which is the highest in the country so far. Consistently for three years, Andhra Pradesh has ranked no 1 in Ease of Doing Business, which speaks volumes about how proactive we are,” he said making a pitch for investments in the state.
Noting that the state has a procedure of approving projects in single window clearance in 21 days, he said AP is one stop destination for solar and wind energy projects.
According to the CM, the state has the opportunity for setting up 33,000 mw pumped storage projects.
He further said the state has the second largest coastline in the country with six operating ports and building four more and six airports connecting the country.