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Andhra Pradesh is the fifth largest economy in the country.
Agriculture is the mainstay of the states' economy. Although 70 per cent of the
population works in agriculture, the services sector has shown a significant
growth in the past decade. Mineral based industry is another important source of
income in the state.
A politically stable and vibrant state, Andhra Pradesh
provides skilled IT manpower, pleasant climate, good technical and social
infrastructure and proactive policies. 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.
The state is a key player in the country's power sector with
the highest hydel power generation. 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. The state has two Special Economic
Zones (SEZs) and growth centres, in addition to the industrial parks set up by
the Government.
The state has a state-of-the-art telecommunications
infrastructure, ensuring good connectivity to global destinations.
Andhra Pradesh is endowed with fertile land and bountiful
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.
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