Godavari region to emerge as A.P.'s economic powerhouse: Minister

The Godavari region is set to become Andhra Pradesh's primary economic powerhouse, attracting an investment outlay of ₹92,000 crore, since June 2024, across 39 projects in various sectors such as maritime trade, shipbuilding, green energy, aqua and food processing.

Speaking at the Regional Conference of 31st CII Partnership Summit in Kakinada on Monday, Minister for Commerce, Industries and Food Processing Minister T.G. Bharat said, "These 36 projects will generate as many as 32,000 jobs, with 18 initiatives already commissioner and 11 more approved."

He also said that the food processing unit will go through a major transformation due to the incentives government is offering to the investors. "An investment policy 2024-29 has been designed to offer a whopping 35% of capital subsidy with power tariff and reimbursement on State GST for those keen to invest in the food processing sector in Andhra Pradesh, which accounts for 15% share in the food processing sector in the country," the Minister said, pointing out that instead of "ease of doing business", the investors should focus on "speed of business" to complete the projects within the deadline.