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Agri and food processing sector registers double digit growth in Andhra Pradesh
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Friday, 17 February, 2023, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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The state of Andhra Pradesh showcased its rich natural resources, large investments in infrastructure, land bank, and intensive reforms in rules and regulations at a successful investors meeting held in Bengaluru. These efforts, taken together, position Andhra Pradesh as the State where abundance meets prosperity. The event is one of many such meets being organised in the run-up to the Global Investors Summit on March 3 and 4, 2023, in Visakhapatnam.
Agriculture and food processing industry in the State offers large opportunities with a double digit growth rate. The GVA of the Agriculture & Allied Sector for the year 2021-22 is estimated to be Rs 2 lakh crore, with a growth rate of 11.27%.
State ranks first in India in aquaculture accounting for 24% of nation’s fish production, second in production of paddy, maize and groundnut and fourth in milk and meat production.
Important steps have been taken by Government to boost the industry, 10,788 YSR Rythu Bharosa Kendras have been established as ‘One Stop Shops’ for a variety of agricultural and related services. The state was ranked first in registered food processing units during the annual Survey of Industries 2019–20 due to its ease of doing business. State has been ranked first in the total value of trade conducted on the e-National Agriculture Market (e-NAM) in FY 2019–20 due to Government facilitation and technology deployment.
Gudivada Amarnath, minister for Industries, Infrastructure, Investment & Commerce, IT, Handlooms & Textiles, said, “According to LEADS Report 2022, the state's exports increased by 15.31% from the previous year in 2021–2022, classifying it as "Achievers" in the Coastal States. With the completion of new ports and also further development of infrastructure for the last-mile connectivity, the state’s share in exports can reach up to 10% of India’s total exports.”
Buggana Rajendranath, minister for Finance, Planning, Commercial Taxes, Skill Development, Training & Legislative Affairs, said, “We strongly believe reducing the time to start a business will have a significant impact on the manufacturer’s profitability. The state is building numerous plug-and-play facilities which will have ready-built factory sheds with quality power and water supply and help speed up setting up of manufacturing units.”
“In the last 3.5 years, the State has approved investments to the tune of Rs 1.9 lakh crore. That would go on to create employment for around 90,000 people in the state in the future,” Amarnath said.
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