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Andhra Pradesh is the fifth largest
economy in the country and second
largest in the south.
Endowed with fertile land, water and supportive agro-climatic
conditions, Andhra Pradesh is a prosperous agricultural state. It is one of the
leading producers of various cash crops like tobacco, dry chilly, groundnut,
turmeric, oilseeds, cotton, sugar, jute etc. The state produces some of the
finest varieties of fruits in the country. Andhra Pradesh is the only state with
abundant energy. Presence of a long coast enabled the marine industry to
flourish in the state. The prosperity of agriculture harnessed the growth of
allied industries including agro-processing, cold storage, warehousing,
fertilisers and packaging.
Andhra Pradesh has a well-developed traditional industry
owing to the availability of wide range of natural resources.
Andhra Pradesh is the second largest storehouse of mineral
resources in India. The abundance of limestone reserves spurred the growth of
the cement industry in the state. In addition, the state has performed well in
the engineering sector. The pharmaceutical and bulk drug industry of the state
has a significant global presence with many state based companies having
established their facilities abroad. The state accounts for the highest
pharmaceutical based exports in the country.
The services sector in the state has shown a promising growth
over the years. The contribution of the services sector to the state GDP has
been consistently over 50 per cent during 1993-2000. The number of software
companies in the state has risen from 26 in 1992-93 to 1,200 in 2001.
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