Andhra Energy Minister urges NRIs, entrepreneurs to invest in state

In a virtual interaction with NRIs based in the US, he assured them that Chief Minister N Chandrababu Naidu is fully prepared to provide the necessary facilities for investors.

“The coalition government is committed to restoring investor confidence and will soon introduce the country’s best industrial policy for the next five years,” said Kumar in a press release.

He alleged that the YS Jagan Mohan Reddy-led previous YSRCP government’s policies had deterred industrialists from entering the state, leading to the cancellation of investment agreements and a decline in new investments.

Further, he emphasised that the TDP-led state government is happy to welcome investments in the power sector, particularly in solar and wind energy formats.

Due to the alleged negligence of the previous YSRCP government, Kumar said companies had exited the state while suggestions from proactive industry bodies such as ASSOCHAM, National Solar Energy Foundation, Indian Wind Power Association and others were also ignored.

However, the Energy Minister said the present government was open to deliberations and eager to take advice from the stakeholders.

Further, he said no other state in India can match the geographical advantages offered by Andhra Pradesh for entrepreneurs and added that Andhra Pradesh is endowed with a stable government.

According to Kumar, the goal of the state government is to attract investments and create job opportunities for local youth and reaffirmed the commitment to generate 20 lakh jobs as promised in the run-up to the polls.

This article was generated from an automated news agency feed without modifications to text.