AP CM paints a rosy growth story

Amaravati, Sep 21 (PTI): “Overwhelming challenges and legacy issues” notwithstanding, Andhra Pradesh has seen very little contraction in its economic growth, Chief Minister Y S Jagan Mohan Reddy claimed here on Tuesday.

Thousands of new micro, small and medium enterprises and 68 major industries have been established in the state in the last two years, creating lakhs of jobs.

The state was also poised for a major leap in economy and employment with several mega projects lined up and infrastructure and logistics being developed to push exports up, the Chief Minister said.

The Chief Minister inaugurated the two-day Vanijya Utsav, being organised by the Union Ministry of Commerce as part of the Azadi Ka Amrit Mahotsav, here on Tuesday and expressed happiness that AP has risen from the ninth to fourth position in the country since 2018-19 in exports, marking a growth of 19.4 per cent.

''In 2018-19, AP accounted for USD 14.1 billion worth exports, which grew to USD 16.8 billion in 2020-21. Our aim is to double the exports by 2030,” Reddy said.

The Chief Minister said the state faced overwhelming challenges, legacy issues and economic downturn.

While the country’s GDP slid from 6.3 per cent in 2018-19 to -7.3 per cent in 2020-21, AP suffered a contraction in the Gross State Domestic Product of only 2.58 per cent last year, he pointed out.

He said 16,311 MSMEs were established with an investment of Rs 5,204 crore, creating 1.37 lakh jobs in the last two years.

Also, 68 mega industries started operations with an investment of Rs 30,175 crore, employing 46,119 people.

In the last one year alone, 10 mega projects have been approved, which would see an investment flow of Rs 26,391 crore to create 55,024 new jobs, the Chief Minister added.

Three new ports and eight fishing harbours were being established to push export growth in the state.

The Chief Minister released the State Export Action Plan on the occasion, aimed at “laying the path for export-led industrialisation.'' The action plan is an effort to apprise and appreciate the necessity of manufacturing more value-added products and establish Andhra Pradesh as an Economic Hub on the east coast by 2030.

State Industries Minister Mekapati Goutham Reddy, Chief Secretary Aditya Nath Das, Union Commerce Ministry Joint Secretary S Suresh Kumar and other officials attended.

The Chief Minister presented awards to 15 ''industry and export champions'' on the occasion.

He also launched the export trade portal and inaugurated an exhibition.

The second day’s event on Wednesday will see an exclusive session on agriculture and allied sectors.