Korea’s Kia Motors is about to construct a brand new $2-billion plant in Andhra Pradesh, Hero Motocorp plant is scheduled to start production this year, along with Japanese majors THK, Celkon, Karbon, Foxconn and the list goes on. 150 companies from 27 countries, including giants like Pepsi, Isuzu, Cadbury’s and Colgate have come to Sri City.
187 large and mega industries have gone into production, investing ₹35,256 crores and creating employment for 87,000 in the last three years. Foxconn alone employs 15,000 women at its plants as on Dec - 2017. This pinnacle have been achieved surpassing all the barriers and hardships, and it could not have been possible without the vision and commitment of the Chief Minister Nara Chandrababu Naidu, and his focus on the development of Andhra Pradesh business landscape.
The State offers a 21-day single desk portal and is the national leader in 'Ease of Doing Business'. One company which attests to this is Walmart which has made the State a priority market. This ranking recognises the effectiveness of State’s business regulations, including the speed and efficiency of the company registration and establishment process. The state had 20 operational SEZs across diversified sectors which include textiles, apparel, food processing, footwear and leather products, multi-product, pharma and IT SEZs etc. Increased from 15 to 20% in growth during 2017, the pharma industry is expecting a boost and has an estimated turnover of over 35,000 crore.
Accepting an invitation from his old friend Sri. Nara Chandrababu Naidu, Mr. Bill Gates addressed AP AgTech Summit which focused on using drones and other cutting-edge technology to increase agricultural productivity. Gates went on to recall his first meeting with CM who was then the chief minister of undivided Andhra Pradesh. “I was told that there is someone who believes in digital technology even more than you do. It was hard to believe but when we met, he had his digital equipment, his computer, and had the vision to make government better by using advanced tools," said Gates.
The agricultural sector in the State has recorded an astounding growth. In a meeting with US-India Strategic Partnership Forum, the Chief Minister spoke about the potential of AP in becoming the new greenfield capital and the Indian hub for horticulture. “We are working towards nurturing the knowledge economy and infusing technology into agriculture”, said Sri. Nara Chandrababu Naidu.
The agricultural sector in the State has recorded an astounding growth of 25.56% against a national average of around 2.5 per cent. The phenomenal growth rate in the farm sector was the result of prioritising agriculture sector by the state administration and a massive technological intervention which marked a transformation in conventional farming.