Andhra Pradesh has ranked one on the list of states in attracting industrial investments in the first seven months of 2022. According to the Department for Promotion of Industry and Internal Trade (DPIIT), Andhra Pradesh has generated an investment of Rs 40,361 crore. Andhra Pradesh stood at 45 percent of the total investment that the entire country got from January to July 2022. India got a total investment of Rs 1,71,285 crore by the end of July as per the DPIIT data.
Andhra Pradesh rolled out its new ‘industrial Development Policy 2022-2023’ which focuses on a sustainable development model of growth, Infrastructure development, and asset creation. The Industrial Development Policy 2020-2023 aims to improve the ease of doing business and incentivize high-value additional industrial investments. In July 2022, Karnataka generated an investment of Rs 3712 crore, Gujarat generated an investment of Rs 2969 crore, and Odisha generated an investment of Rs 1493 crore.