AP saw industrial decline under YSRCP: Bharath

Vijayawada: Industries minister T G Bharath on Friday criticised YSRCP members for misinterpreting the Reserve Bank of India’s ‘Handbook of Statistics on Indian States’ report released on December 11, stating that they had cited the document without proper study and assumed it supported their claims.

Speaking at the media point at Assembly, the minister said that after thoroughly examining the 450-page report published by the RBI several crucial facts emerged that contradict the YSRCP’s narrative. He pointed out that Andhra Pradesh had 16,924 industries in 2019–20, but the number declined to 16,011 by 2023–24-indicating that 913 companies left the state during the previous government’s tenure.

In contrast, other states registered significant industrial growth during the same period. Gujarat increased from 28,479 industries in 2019–20 to 33,311 in 2023–24 (an addition of 4,832 industries, 17% growth). Karnataka rose from 14,169 to 14,984 (815 increase), Maharashtra from 29,123 to 30,389 (1,266 increase, 4.3 per cent growth), and Tamil Nadu from 38,999 to 44,835 (5,836 increase, 15 per cent growth).

“While every major state recorded industrial expansion, Andhra Pradesh alone witnessed a decline. Calling the 2019–24 period ‘fantastic’ is nothing short of a self-goal,” Bharath remarked.

He asserted that the situation has changed completely since the NDA coalition government assumed office in 2024 under Chief Minister N Chandrababu Naidu. To fulfil the pre-election promise of creating 20 lakh jobs, a special Group of Ministers (GoM) has been constituted under the leadership of the Chief Minister and Minister Nara Lokesh.

The minister revealed that investment proposals worth Rs 20 lakh crore have been secured through Partnership Summits and Cabinet approvals. Citing Forbes data, he said Andhra Pradesh ranked first in attracting investments between April and December 2025, securing a 25.3 per cent national share, ahead of Odisha (13.1 per cent), Maharashtra (12.8 per cent), Telangana (9.5 per cent), Gujarat (7.1 per cent), Tamil Nadu (4.9 per cent), and Rajasthan (4.3 per cent).

Bharath further announced that the foundation ceremony for the ArcelorMittal project will be held next month, while the Bharat Petroleum Corporation Limited project was finalised in 2024.

He added that PCBL, which had shifted to Karnataka during 2019–24, is returning to Andhra Pradesh following Naidu’s comeback, and that Premier Engineering Company with a Rs 50,000 crore market cap has relocated from Telangana to Andhra Pradesh.

The minister said these developments reflect renewed investor confidence in the state’s leadership and urged people not to be misled, stating that copies of the RBI report have been submitted with supporting evidence.