Andhra Pradesh Aims to Attract Rs 30,000-crore Investments, Create 3 Lakh Jobs in Food Processing Sector

Andhra Pradesh aims to become a global food-processing hub with a target of Rs 30,000 crore in investments and three lakh new jobs under the AP Food Processing Policy 4.0. The state has 6,000 registered food-processing units, nine integrated food parks, and 17 lakh MT of cold storage capacity. Naidu assured investors of a single-window clearance system and promised special incentives for projects above Rs 200 crore. The initiative ties into the Swarna Andhra Vision 2047, under which Andhra Pradesh aims to become a $2.4-trillion economy.

The State Investment Promotion Board (SIPB) of Andhra Pradesh has approved 30 investment projects worth Rs 53,922 crore, which are expected to create 83,437 jobs. The approvals were made at the 10th SIPB meeting, led by Chief Minister N Chandrababu Naidu, who emphasized the state's commitment to the 'ease of doing business' policy.

Among the approved projects, HFCL is investing Rs 1,197 crore in Madakasira, Apollo Tyres is investing Rs 1,100 crore in Chittoor district, Dhirubhai Ambani Green Tech Park is investing Rs 1,843 crore in Krishnapatnam, and Serentika Renewables of India is investing Rs 2,000 crore in Anantapur. These investments highlight the state's focus on various sectors, including technology, manufacturing, and renewable energy.

The Chief Minister underscored his personal monitoring of project implementation and stressed the importance of developing the food processing industry. He also mentioned the state's target of Rs 30,000 crore in investments and three lakh new jobs under the AP Food Processing Policy 4.0. This initiative aligns with the Swarna Andhra Vision 2047, which aims to make Andhra Pradesh a $2.4-trillion economy.

Naidu also tasked officials with holding talks with food processing companies to set up units throughout the state. The development of horticulture and mango processing in Chittoor and Rayalaseema districts is expected to benefit farmers significantly. Additionally, the Chief Minister called for the establishment of MSME parks as business centers, with one in every assembly constituency, and suggested linking these parks to Ratan Tata Innovation Hubs (RTIHs) to improve product quality.

The approval of these projects underscores Andhra Pradesh's commitment to economic growth and job creation, positioning the state as a key player in the Indian investment landscape.

References:
[1] https://economictimes.indiatimes.com/news/india/andhra-pradesh-sipb-approves-30-investment-projects-worth-rs-53922-crore/articleshow/123569251.cms