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Sunrise AP attracts investors from Telangana
Business knows no boundaries. This is what a slew of investors from Telangana has proved with a pro-active approach to invest in the sunrise AP.
Vijayawada: Business knows no boundaries. This is what a slew of investors from Telangana has proved with a pro-active approach to invest in the sunrise AP.
In what could be viewed as a major milestone in building bridges between the two truncated states, a trade body named the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) was floated to ensure that rancor and regional animosities give way to industrial progress in a win-win manner.
A section of Telangana investors evinced interest to invest in Amaravati and in other parts of Andhra Pradesh at a roundtable on “Trade and investment opportunities in Andhra Pradesh” held here under the aegis of the trade body as a maiden initiative.
Around 100 entrepreneurs based in Telangana with AP origin volunteered to establish their units in food processing sector in the food park proposed at Veerapanenigudem in Krishna district
According to a spokesman from the FTAPCCI, its president Ravindra Modi, promoter of Hyderabad Food House and Surya Masala, leading brands of food items in Telangana, is keen to establish a mega venture in Amaravati.
Sources said he reportedly met Chief Minister N Chandrababu Naidu and conveyed his intention in this regard recently.
Bet Win, a firm manufacturing fiber doors and windows with Japanese technology based in Telangana, is on the look for an ideal location for its branch in AP.
The firm, an arm of Sudhakar Pipes with its main unit in Suryapet has established a unit in Vizianagaram district soon after bifurcation.
Kushmanv Web Technologies, a business portal based in Hyderabad, is poised to move to Vijayawada before Ugadi in its new avatar as TradeAmaravati.com, its promoter Venkat Bulemani told The Hans India.
The portal makes available all business-related info in its domain as an e-handbook for prospective investors.
V-Portal, a software firm with a network of 1,000 employees in Hyderabad offered to set up a shop at Mangalagiri and the AP government has in turn offered the firm a piece of half acre land for the purpose.
Around 100 entrepreneurs based in Telangana with AP origin volunteered to establish their units in food processing sector in the food park proposed at Veerapanenigudem in Krishna district.
What is the pull factor which attracts TS investors beyond the strife and rancor nursed by the division of two states more than two years ago? “Chandrababu Naidu is business friendly.
Besides, the successor state is endowed with a vast scope for business and industrial peace. Besides, Andhra people are peaceloving,” said a key person from the FTAPCCI.
In fact, entrepreneurs from Andhra region played a key role in industrial progress in Telangana with footprints in film industry, IT, Pharmaceuticals, plastic, real estate and hospitality sectors till the division of the state.
After all, it appears to be time for TS investors for a quid-pro-quo gesture. Potluri Bhaskar Rao, Executive Director of the Andhra Pradesh Chambers of Commerce and Industry commented that it is a welcome sign.
In the same breath, he adds, “It should happen in coordination with the local industry bodies”. J Krishna Kisore, Chief Executive Officer of the Economic Development Board of Andhra Pradesh, told the TS investors that the AP government was mainly focusing on attracting investments in IT, automobile, food processing, pharma and tourism.
He asserted that the government has created a pro-industry eco-system by establishing a single desk for clearances with a mandate to accomplish the task within a timeline of 21 days, ranking first in Ease of Doing Business, overcoming power deficit.
Kishore informed that the government has proposed to take up an ambitious road project with a length of 1,000km along the AP coast in a bid to promote beach tourism.
Meanwhile, a backgrounder supplied to the participants said the AP government has been extending a slew of `tailor-made’ incentives for mega projects, reimbursement of VAT/SGST/Stamp duty, capital interest and power cost subsidies in an attempt to attract investments into the successor state.
