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AP targets Rs 23 lakh cr investments, 20L jobs in five years: Minister Bharath
In Short
Minister TG Bharath announces that Andhra Pradesh aims to secure Rs. 23 lakh crore in investments and create 20 lakh jobs in five years
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Minister of Industries and Commerce TG Bharath, among others, at the CII Regional Conference organised at IIM-V in Visakhapatnam on Wednesday
Visakhapatnam: Attracting investments to Andhra Pradesh and generating large-scale employment are the government’s primary objectives, said Minister of Industries and Commerce TG Bharath.
Speaking to the media at the CII Regional Conference held here on Wednesday, the Minister said that five regional conferences are being organised across different parts of the state to promote investment and industrial development.
Bharath mentioned that the government is continuously monitoring projects for which MoUs have been signed to ensure that the proposed investments convert into actual projects.According to the Minister, the state cabinet has approved investment proposals worth approximately Rs.14 lakh crore across various sectors, with the potential to generate more than 10 lakh jobs. Including MoUs signed earlier, investments worth around Rs.23 lakh crore have been confirmed, he added. The government has set a target of creating 20 lakh jobs over the next few years, Bharath informed.
Further, he mentioned that special industrial clusters are being developed in key sectors such as defence, space, automobiles, chemicals and pharmaceuticals to attract investments and strengthen the state’s industrial ecosystem.
The minister informed that the government is also working towards establishing an MSME Park in every assembly constituency. Foundation or grounding works have already commenced for around 138 MSME parks, he added.
