Covering an area of 275,100 sq km, Andhra Pradesh is the fourth-largest state in India after Rajasthan, Madhya Pradesh and Maharashtra. It falls in the Southern peninsula of India; has a coast line of 974 km.
Andhra Pradesh has emerged as a key state for the knowledge-based industry including IT, pharmaceuticals and biotechnology. It is also a leading agricultural state in the country. Seventy one of the 500 top global corporations are present in the state. The state has had a healthy FDI inflow over the years, primarily, in sectors related to IT/ITeS, automotive, engineering and electronics. According to the Reserve Bank of India, FDI inflows from April 2000 to October 2009 amounted to US$ 4.2 billion.
The state offers a wide range of fiscal and policy incentives for businesses under the Industrial Investment Promotion Policy, 2005-10. Additionally, the state has well drafted sector-specific policies.
The state is targeting 9 per cent annual economic growth during the Eleventh Five-Year Plan period (2007–12). Vast natural gas reserves found in the Krishna–Godavari basin have opened up immense possibilities for the state economy.
The Government has initiated a set of prestigious projects including those in industrial infrastructure for the specific sectors, through the Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC). APIIC has already helped set up 272 industrial estates and specialized parks including the L&T Infocity, ICICI Knowledge Park, SP Bio-tech Park, Marine Bio-tech Park, AgriBio-tech Park, special economic zone (SEZ), PharmaCity, Hardware Park, HITEC city, leather parks, food processing park and agri-export zones.
State Presentation (April 2010)
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