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Singapore NRIs Have Big Plans For AP

“It's the beginning, many such one point contact offices will be set up in the State by NRIs and business houses abroad. AP Economic Development Board's Chief Executive Officer J. Krishna Kishore is currently on this job of follow-up tour for investments. We may expect the investment decisions soon," said a senior official.

The State government has invited investments in ten areas: agro and food processing, life sciences, textiles and apparel, electronics and IT, mineral-based industry, automobiles and auto parts, petroleum, chemicals and petrochemicals, energy, leather and aerospace and defence. The State government has targeted to attract $32 billion investment by 2020, according to the presentation given to potential investors abroad.

The government is also aiming at attracting investments to the tune of Rs. 20,000 crore in the new capital in the tourism sector alone by 2029. Incidentally, IT Minister Palle Raghunatha Reddy announced recently in Anantapur that 44 IT firms have promised to invest about Rs 3,000 crore in the State. Besides setting up a research lab in Tirupati, an IoT lab in Visakhapatnam has been announced by CISCO, as per the information from the State government.

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