Last updated on Nov, 17 2020
The erstwhile state of Andhra Pradesh has been bifurcated into two states, Telangana, and residuary Andhra Pradesh (Seemandhra), by the Andhra Pradesh Reorganisation Act, 2014 or the Telangana Act. The act consisted of the aspects of the division of assets and liabilities, the boundaries of the proposed new states, and the status of the capital city Hyderabad after the separation of the state.
The state has a well-developed social, physical, and industrial infrastructure and virtual connectivity. It also has good power, airport, IT, and port infrastructure. At current prices, Andhra Pradesh's Gross State Domestic Product (GSDP) is estimated at Rs. 9,72,782 crore (US$ 138 billion) for 2019-20 as opposed to Rs. 8,62,957 crore (US$ 126 billion) for 2018-19.
Andhra Pradesh has been one of the foremost states to have developed sector-specific policies. Forming industrial clusters and developing infrastructure, such as biotech parks, textile parks and hardware parks, has been the state's key strategy to attract investments in various industries.
As of February 2020, the state had 20 operational SEZs (Special Economic Zone), 32 SEZs with formal approvals, four SEZs with in-principle approval, and 27 notified SEZs. These SEZs were spread across diversified sectors which include textiles & apparel, food processing, footwear & leather products, multi-product, pharma, IT SEZs, etc.
The state attracted Foreign Direct Investment (FDI) equity inflow worth US$ 19.19 billion between April 2000 and March 2020 according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).
Seemandhra, comprising Rayalaseema and coastal Andhra, has most of the power projects of undivided Andhra Pradesh. Coal-based power plants are mostly located in the state due to proximity to the ports. As of March 2020, Andhra Pradesh had a total installed power generation capacity of 24,854.00 MW.
The Visakhapatnam port ranks third in terms of port traffic in India. It handled 72.72 million tonnes of traffic during 2019-20.
In 2019, domestic tourist arrivals in the state stood at 195.8 million, while foreign tourist arrivals stood at 0.23 million.
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