Only 134 industries start production in two years in Andhra Pradesh
Since June, 2014, the Andhra Pradesh State government had entered into 1168 Memorandum of Understandings aimed at attracting investments to the tune of 16.24 lakh crore and providing employment to 32.55 lakh people in the state. Though only 134 industries have started production so far with an investment of around 64250 crore rupees and generating employment to 52305 people so far as of now.
Throughout a review meeting with officials state Chief Minister Chandrababu Naidu enquired about the status of the MoUs signed by various departments for the past 2 years and the officials told the CM that as many as 1168 MoUs worth 16.24 lakh rupees were signed after the TDP came to power in 2014 year. Though 664 MoUs worth 10.54 lakh crore rupees were signed during 2017 CII Partnership summit 328 MoUs worth 4.61 lakh crore rupees were signed during 2016 partnership summit and the remaining 176 MoUs worth 1.07 lakh crore rupees were signed in various stages in Andhra Pradesh State.
Here, out of the total Memorandum of Understandings signed 134 of them have already gone into production with an investment of around 64250 crore rupees and expected to provide employment to 52305 people and the Industries Department has succeeded in attracting 211 projects worth 1.08 lakh crore apart from the MoUs signed during the partnership summits and the officials informed the Chief Minister as per the officials report.
Maximum number of MoUs count is 339 were signed with food processing industry and in terms of asset Industries sector stood top as it is estimated to get investment worth 4.31 lakh crore rupees through 241 Memorandum of Understandings and economic Development Board stood second as 77 MoUs estimated to attract investment to tune of Rs 4.23 lakh crore as per the report.