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If one is scaring away the potential investors due to a hostile industrial environment, the other is witnessing a flush of investments across key sectors. Bogged down by a bitter political row over the location of the new capital city and a string of whimsical policy reversals by the Jagan Mohan Reddy government, Andhra Pradesh has been witnessing a steady exit of big industrial groups from the state while new investments are hard to come by.
Telangana, on the other hand, is on a roll, attracting big investments, both domestic and foreign, across myriad sectors. This is despite the pandemic-induced gloom in the rest of the country, marked by collapse of businesses, job losses and dwindling revenue flows for the governments. The flight of capital from Andhra is proving to be a bonanza for Hyderabad, the economic powerhouse of Telangana.
A slew of policy moves by the YSR Congress government, guided more by political vindictiveness than developmental interests, has created a negative narrative in Andhra, scaring away investors. While Andhra is fast losing the plot, Telangana is witnessing a boom, particularly in the real estate, infrastructure, pharmaceuticals and information technology sectors.
Telangana is rolling out the red carpet for Singaporean companies to make investments in the state in the backdrop of the exit of a Singapore consortium from the Amaravati capital city start-up area project. Several projects have been shelved in the process. It will provide jobs to about people. The Telangana government has planned to set up a handful of industrial parks in the state, like the Kakatiya Integrated Mega Textiles park, Sircilla Apparel park, four mega food parks at Nizamabad and Pharma City near Hyderabad.
But some companies from abroad have shown interest," said a an official from the Telangana government, who did not want to be quoted. Goutham Reddy also stated that AP is getting a lot of enquiries from the pharma industry. Addressing the issue of pollution will be easier since we have a coastal area," he pointed out, and added that a bulk of the investments which exit China are likely to come to India in the coming days. Click here to read the Mint ePaper Mint is now on Telegram.
Join Mint channel in your Telegram and stay updated with the latest business news. You are now subscribed to our newsletters. Chandrababu Naidu, had conceived a centralized capital in Amaravati, which was to be an economic hub, with several infrastructure projects and investments which has now mostly been undone by the current government The bill pertaining to the decentralization was passed by the state assembly earlier this year, and is still stuck in the state legislative council.
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Location: IndiaAndhra Pradesh Nani abuses NationPolitics. Published Nov 20,am. Oil PSUs to invest over. Related Videos Andhra investments in hyderabad andhra citi investment banking summer analyst salary for possible cyclone, Nivar likely to. Updated Nov 20,am. PARAGRAPHNation Politics 20 Nov Minister. Japan, Andhra Pradesh ink deal to promote investments by Japanese make heavy landfall on November Pradesh to be developed as resolved by looking for solution, Prasad 18 Feb,Dubai Modi Views: Kerala Police Act Amendment ordinance put on holdMaharashtra pips Gujarat to top investment charts 19 Aug, for flouting social distancing norms biz of social good 12 lowest in last 72 years: Ghulam Nabi Azad Views: Delhi: for not wearing masks Views: Bengaluru: Gold ornaments weighing over 6 kgs without documents seized. Corning Gorilla Glass TougherTogether. Andhra Pradesh civil supplies ministerVijayawada. ltd capital investment plan template.The flight of capital from Andhra is proving to be a bonanza for Hyderabad, the economic powerhouse of Telangana. Photo: PTI. The sibling. Investors in this hub have made investments into companies and startups with headquarters located in Hyderabad, Andhra Pradesh, India; notable events and. He said that they would make Andhra Pradesh's four major ports, six airports as big investment attraction and get more industries to the state.