The number of investors keen on setting up units in Andhra Pradesh is going up by the day. “There has been a steady rise in the number of industrialists joining the bandwagon,” said J.A. Chowdary, chairman, Industrial Development Forum (IDF), a body of industrialists who have come together to mobilise investments in sectors like electronics, Information Technology, education, health care and infrastructure. Mr. Chowdary had recently stated that the State had been assured of investments to the tune of Rs. 5,600 crore over a period of three to four years.
“We want companies to expand their operations and create employment opportunities. We meet on the second Wednesday of every month in Hyderabad to mentor entrepreneurs. We want them to explore new opportunities and succeed in their ventures,” Mr. Chowdary said.
IDF has submitted a white paper on the proposed tax holidays. It is also preparing a white paper on labour reforms as it was done in States like Gujarat. “This is essential to create a conducive atmosphere for investments in the State,” he emphasised and added that IDF membership would soon touch 100.
On the hurdles that lie ahead for Chief Minister N. Chandrababu Naidu, he said financial engineering would be a major challenge. “He is starting with a huge deficit budget. With promises like waiver of loans to farmers, creating wealth would be an uphill task,” Mr. Chowdary said.
He added that IDF was engaged in enabling entrepreneurship in both Andhra Pradesh and Telangana. “Creating resources and generating employment in both the States are equally important,” he reiterated.
“The business class has no political borders. Any place that makes business sense will attract investors. Software companies operate all over the world. Wherever there is greenfield of opportunities, business people will go there,” he said, maintaining that IDF is interested in the overall ecosystem of the two States.
