FDIs in A.P. have come down steeply: TDP

The Telugu Desam Party has alleged that the Foreign Direct Investments (FDI) in the State have come down steeply during the YSRCP rule. 

Addressing a press conference on Tuesday, TDP official spokesperson Neelayapalem Vijay Kumar said the FDIs to the State had nosedived to a precarious 14th place in the country. Referring to information provided by the Ministry of Commerce, Investment & Promotion Board, he said that the total FDIs received by Andhra Pradesh during October 2019- December -2022 December) was just ₹5,751 crore. It was ₹3.74 lakh crores in Maharashtra, ₹3.21 lakh crore in Karnataka, ₹2.34 lakh crores in  Gujarat.  Even neighbouring Telangana received ₹34,000 crore.

“Why the investors lost confidence in A.P. The State government needs to introspect, he said. 

Chief Minister Y S Jagan Mohan Reddy had not made any efforts in attracting the FDIs to State. He attended the Davos Investment Summit only once and abstained for the second time, he alleged. 

Even the paltry investments that came in the first summit were made by Indian companies such as Adani, Aurobindo etc., who went all the way from India to sign the MoUs in Davos thus giving a colour of FDI, he alleged.