Finance Minister Arun Jaitley on January 10 made a strong pitch for Andhra Pradesh as an investment destination, saying that its leaders were completely focused on development and that the state had plenty of resources.

He was speaking at the inauguration of the three-day Partnership Summit jointly hosted by the Confederation of Indian Industry and the State government.

Despite the State being placed in a difficult and challenging position after the bifurcation, he said it had registered growth of 11 per cent.

He promised that the Centre would fulfil all commitments made to the State at the time of bifurcation even by the previous government and the Centre would continue to support the State till it achieves a surplus budget.

“Already, several central educational institutions have been sanctioned for the State and the Centre would provide help in the construction of the new capital, Amaravati. I have no doubt that it will become one of the best cities not only in the country but the world,” he said and added that it would be a great opportunity to invest near the new capital.

The Finance Minister also said that all the tax incentives sought by Chief Minister Chandrababu Naidu earlier in his speech would be given. “We are solidly behind you. Step by step, all assistance will be given,” he told the Chief Minister.

Earlier, the Chief Minister highlighted the advantages of investing in the State and promised to provide land and all other facilities to industrialists. “There will be no hassles and you will be given all help. Clearances will be given in 21 days. I promise you that you will never regret investing in the State,” he said.

Anil Ambani, Chairman of Reliance ADA group, said his group was investing Rs. 5,000 crore in a naval ship-building facility at Rambilli in Visakhapatnam district and an MoU had been signed earlier in the day with the State government.

 Source: Business Line