Andhra Pradesh is the fourth largest economy in the country. Agriculture is one of the main pillars giving direct support to the states' economy. Recording a massive growth of services sector in the past decade, about 70 percent of the states' population earns its livelihood through agriculture. Meanwhile, Mineral based industry is the other important source of income generation.
With a balanced status in politics and other fields, Andhra Pradesh has been able to maintain its stability in Information technology as well. Skilled manpower, pleasant climate, good technical and social infrastructure, and proactive policies are collectively responsible for its sound position in IT. The Government of Andhra Pradesh has established several world-class academic institutions in collaboration with reputed organisations worldwide. The state has been proactive in establishing various dedicated research organisations in different sectors. In addition to the institutions set up by the Government, the state has been persuasive in welcoming the corporates to establish their R&D facilities.
Being a key player in the country's power sector, the state is the highest hydel power generator. Hi-Tech City, an IT park of the state, is the largest IT facility in the country. Speciality parks for the biotech sector have been proposed and are under progress. Besides the industrial parks set up by the Government, the state has two Special Economic Zones (SEZs) and growth centres.
With a state-of-the-art telecommunications infrastructure, the state ensures good connectivity to global destinations.
Andhra Pradesh is bestowed with fertile land and abundant mineral resources. The state is one of the largest producers of rice and a leading producer of major commercial crops and rich minerals. The affluence of agriculture has spurred the growth of allied industry like warehousing, cold storage, packaging etc.
Mineral based industries in the state mainly include cement and steel industries. The state is one of the leading exporters of software products in the country. It is also the largest exporter of bulk drugs and Pharmaceuticals, contributing about 33.3 per cent of the total exports from the country. In addition, leather and textile industries have shown a promising growth over the years.
The state with its proactive policies ensures a good investment climate for investors. The state is the first to have a comprehensive ITES/BPO Policy and also the first to have data protection and a consumer act in the country. In order to ensure all round progress, the state has formulated a food policy, pharmaceutical policy and FDI policy extending a supportive hand to the investors.