Almost five months in power, the Y S Jagan mohan Reddy government is now comfortable by roping in big industrialists to invest in the State. The government, despite passing a new legislation that 75 per cent of the jobs should be given to the locals in any industry or office, was able to convince the investors to look at Andhra Pradesh as their destination.
The Industries department in the State claimed that it was holding talks with the industrialists across the globe to come to Andhra Pradesh. The government had introduced new industrial policy by opening single window and offering several incentives. The officials from the industries department have initiated the consultations with at least a dozen industrialists from the country who initially promised to invest in the steel sector.
The companies like Hyundai, JSW, Asia Pulse, ACT Tyres, Reliance Prolific Trade have come forward to invest in the State. According to the initial estimates, several national and international companies are holding consultations with the government in steel, paper and footwear manufacturing in the State. The investment to the tune of Rs 2 lakh crore is expected from these companies if the efforts are to be believed and turn successful for Jaganmohan Reddy government.
The state government is also holding consultations with some of the investors who have signed Memorandum of Understanding (MoU) with the previous Chandrababu Naidu government in the last five years. The officials in the industries department have shortlisted the investors and are establishing contact with them to start their investment in the State.
The Telugu Desam Party leadership and former chief minister Chandrababu Naidu have been accusing Jaganmohan Reddy of failure in the last five years. The TDP said that the investors who were convinced by the TDP government were now running away from the State due to policies of the new government. The reverse tendering being applied by the Jaganmohan Reddy government had come handy for the TDP to launch the criticism but now if one has to be believed, the State would be witnessing a flow of investments in the months to come.