As Visakhapatnam is set to roll out a red carpet for the industry doyens and government executives from as many as 40 countries at the two-day Global Investment Summit (GIS) which will kick-start on Friday, Andhra Pradesh chief minister YS Jagan Mohan Reddy said investors meant a lot to the state.
The Telugu state has been ranked first on the national ease of doing business survey for consecutive three years. In an interview to The Financial Express, the chief minister said he is confident that the FDI flows will multiply inhe state.
Under the able leadership of YS Jagan Mohan Reddy, Andhra Pradesh’s economy grew at 11.4 percent which is the fastest pace among Indian states in 2021-22. It will also register gross state domestic product (GSDP) expansion higher than the national average in the current fiscal.
The Centre is building three of the eleven industrial corridors in Andhra Pradesh – Hyderabad-Bangalore, Visakhapatnam-Chennai, and Chennai-Bangalore. YS Jagan pointed out that the state is poised for a ‘port-led development’ and it will stand to benefit not only its own state but also the land-locked states.
(With inputs from FE)