AP clears applications for 6947 Crore investments!

The Single desk investments clearance system introduced by Andhra Pradesh government is doing wonders for the truncated state. The policy was introduced on May 29th and so far about 548 industries have applied through the online portal.

[m9ad]

All of them are said to have received the approvals within the timelines. Greenply, Guntur Textile Park, Simhadri Pellets, Gil Life Sciences and others – a total 39 applications of the total 548 applications have proposed a total of Rs 6,432 crore investment.

The remaining industries are proposing investments of a little over Rs 500 crore. Most of them are essentially setting up micro, small and medium projects.

The state machinery and the Chief Minister are buoyed by receiving applications involving close to Rs 7000 crore investments in just one month. Most of these applicants are already in the process of setting up their units.

Both AP and Telangana are competing in bringing out transparent and hassle free procedures for clearing applications of investments. The states of entire country is watching towards introducing these systems to become industries friendly.