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AP excels in ease of doing business
Andhra Pradesh, despite not having a capital city of its own, has emerged as the second best State in ‘ease of doing business’ rankings compiled by the World Bank in 2015, a feat that stands as a true testimony to its sterling performance on the industrial front this calendar year.
The State has secured second position, next only to Gujarat, in a World Bank survey on facilitating setting up of business and industries. A number of companies have come forward to set up their units in the State. A truly world-class capital, Amaravati, will further boost the infrastructure sector. An investor-friendly policy is inducing investments into renewable energy, IT and manufacturing sectors
Andhra Pradesh, despite not having a capital city of its own, has emerged as the second best State in ‘ease of doing business’ rankings compiled by the World Bank in 2015, a feat that stands as a true testimony to its sterling performance on the industrial front this calendar year.
The truncated State has scored top points in eight areas with investor-friendly initiatives, with the cumulative score reaching 70.12 per cent, just one percentage point lower than the top-ranking Gujarat which secured 71.14 per cent. At the request of the central government, the World Bank assessed all the States in India on the implementation status of 98-point investor-friendly measures and accorded ‘ease of doing business’ rankings. AP which has surprised many by bagging the second place in the first edition is now gunning for the coveted top slot in the next edition of the rankings.
Not only this, AP has also scored well during the year in terms of attracting investments into various industrial segments, especially in mobile manufacturing in which it is expected to emerge as a national hub. Several mobile manufacturing companies including Micromax, Celkon and Karbonn have come forward to set up their plants near the temple town of Tirupati where AP is creating world-class mobile manufacturing hub. Hong Kong-based Foxconn, touted as the world’s biggest contract handset maker, has already established its base at the integrated business city of Sri City in Chittoor district. It is producing handsets for several companies, including Gionee, OnePlus and Xiaomi.
The other development during 2015 that could give fillip to the infrastructure sector is the AP’s plan to construct world-class capital city, Amaravati, for which foundation stone was laid in October. Singapore Government and private entities are helping AP in this endeavour. Besides, Andhra Pradesh has also attracted investments into renewable energy, IT, manufacturing sectors during the year under review. Overall, AP has achieved several milestones in the industrial space during 2015.
By P Madhusudhan Reddy
