CHITTOOR: Underscoring the investment potential in the state, chief minister N Kiran Kumar Reddy has said Andhra Pradesh is poised to emerge as a leading industrial hub in the country. Inaugurating 20 operational units at the Sri City Special Economic Zone here on Friday, he said the state attracted a foreign direct investment of over `28,398 crore recently in sectors such as manufacturing, pharmaceuticals, IT and infrastructure."The 15 mega industrial projects that have come up recently have created employment for over 38,000 people," he claimed. Andhra Pradesh, the third largest economy in the country, contributes over 9.22 per cent of the nation's GDP.It is also the second largest exporter of vaccines and produces one-third of the nation's bulk drugs. The state also has the distinction of being the second largest mineral store-house accounting for 40 per cent of the limestone deposits and is rich in natural resources such as coal, bauxite, granite and natural gas.The state had superior infrastructure with best connectivity to airports and seaports developed to international standards, Reddy claimed. "The Sri City SEZ generated employment for thousands of people in and around this area directly and indirectly.The Sri City IL&FS training centre ensures quality training to people to make them employable. One of the most backward areas of the state, this place will soon become a hub of industrial activity," said TS Appa Rao, principal secretary (Industry & commerce). Sri City, which commenced operations three years ago, is expected to have over 50 companies that will manufacture and export products in the Indian and world markets. "We have created the required infrastructure like roads and power, and are moving into the second phase now," said Ravindra Sannareddy, managing director of Sri City SEZ.
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