Saturday, June 07, 2014: They plan to make investments in the areas of information technology, electronics, solid waste management, pharma, healthcare, mining, infrastructure, hospitality and education
In a clear attempt to grab the opportunity at hand, a group of industrialists under the banner of the Industrial Development Forum (IDF) met with newly appointed Chief Minister of Andhra Pradesh, N Chandrababu Naidu and discussed various investment proposals in the state. The industrialists offered to make investments worth Rs 56,000 Million in as many as 12 sectors in the state over the next two to three years.
IDF is looking to take advantage of the tax holiday and concessions that would eventually be offered owing to the Special Category status being bestowed on Andhra Pradesh. To achieve the same, they plan to make investments in the areas of information technology, electronics, solid waste management, pharma, healthcare, mining, infrastructure, hospitality and education. Moreover, over 100 companies that had earlier set up shop in the state of Himachal Pradesh in the wake of the concessions offered there are also keen on coming to Andhra Pradesh, said IT honcho and IDF convenor, J A Chowdhary.
IDF members are expected to organise a summit in Vijayawada or Visakhapatnam soon where they expect to sign some MoU with concerned authorities to progress. Meanwhile, IDF delegations are expected to visit countries like China, Japan and the United States to attract global investors to the state.
