Andhra Pradesh Provides Perfect Ecosystem for Business Expansion: FM Rajendranath

Amaravati/Hyderabad: Highlighting the infrastructure and ecosystem for business expansion in Andhra Pradesh, the state Finance Minister Buggana Rajendranath said the Telugu state is home to a few big electronics and pharma companies. 

Rajendranath is promoting the State for investments in the upcoming Global Investors Summit scheduled on March 3 and 4 in Visakhapatnam. As part of this promotional tour, he conducted a roadshow in Hyderabad. 

The Finance Minister said Hyderabad is not the only place in South India for the pharmaceutical industry. He said pharma companies like Mylan, Biocon, Lueben, Hetero, Laures Labs, Divis Laboratories, Aurobindo Pharma, GSK, Dr Reddy's and Apollo are operating from Andhra Pradesh. 

He also added that automobile and electronics makers have also set their shops in the Telugu state. 

 "In the electronics sector, we have prominent names like Bluestar, Foxconn, Daikin, Panasonic and WinTech working from here," said a press note shared on Friday, quoting the Minister as saying at the roadshow. 

This shows that we have a perfect ecosystem for business expansion. All this reiterates AP's number one position in ease of doing business for three consecutive years, Rajendranath added. 

The Finance Minister said the State government is expending Rs 2,500 crore to build an international airport at Bhogapuram near Vizag which is aimed at bolstering Andhra Pradesh's air connectivity. 

Additionally, the YSRCP government intends to develop inland waterways to slash logistics costs as 27 locations have been identified as prioritised terminals, adding that waterways in Andhra Pradesh will have a potential to handle 10 MT of cargo by 2029.

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