Andhra Pradesh Energy Minister urges non-residents of India to invest

Andhra Pradesh Energy Minister Gottipati Ravi Kumar on Monday urged entrepreneurs and non-resident Indians to invest in the state to tap into ample opportunities.

During a virtual interaction with non-resident Indians living in the US, he assured them that Chief Minister N. Chandrababu Naidu is fully prepared to provide necessary facilities to investors.

Kumar said the NDA coalition government has been consistently restoring investor confidence and will soon unveil the country’s most important industrial policy for the next five years.

He criticised the policies of the previous YSRCP government led by YS Jagan Mohan Reddy for hampering industrial activities in the state, which led to cancellation of investment agreements and decline in fresh investments.

Kumar also mentioned the TDP-led state government’s willingness to open up investments in renewable energy sectors, especially solar and wind power.

He said the collapse of several companies was due to the alleged negligence of the previous administration, while emphasising that the recommendations of proactive industry bodies were being ignored.

He, however, noted that the current government, in alliance with the BJP and Janasena Party, is open to stakeholder input and is keen to support it.

Kumar said the geographical location of Andhra Pradesh provides unrivaled opportunities for entrepreneurs and emphasised the stability of the government.

He reiterated that the state’s aim is to attract investments, create employment opportunities for local youth and deliver on the promise of 20 lakh jobs made during the election campaign.

(Based on information from the agency.)