Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has promised rapid industrialization in the state in the coming years. He made this promise after inaugurating the first phase of AP tires unit at the AP SEZ. He said that the Japan based Yokohama company began production in just 15 months and that the second phase would become a reality by August 2023. The company currently stands in fifth place in the world, and is expected to move to the third spot very soon.
Jagan said that the company investing in AP is a very good sign, and that the company has already invested Rs. 1250 Crores in the state, has provided employment to over 1200 people. Jagan said that employment would be created for nearly 800 people in the second phase.
Jagan also said that AP is the only state with three industrial corridors and nine shipping harbours coming up, and that the state is poised for a big leap from 2 to 10% of the national average in exports, in the coming years. The CM reminded that the state has been on the top of the Ease of Doing Business list for the last three consecutive years, and that the government will be extending full cooperation for any industrialists who are willing to invest in the state. While Jagan may have promised all this, it is to be seen whether the CM would stick to his promise or not, given that there have been many times in the past when the CM was very happy to break his promises.
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