The State, with its rich and abundant natural resource base as well as diverse agricultural and forest wealth, provide tremendous investment opportunities in the State. It is fast transforming into a dynamic industrial economy. Its large pool of technical manpower, proactive Government policies, excellent infrastructural facilities, diversified cropping pattern, vibrant manufacturing and mining sector makes it one of the most preferred destinations for the investors. Traditional sectors such as textiles, leather, minerals and food processing are also being further developed. In addition, the information technology and the tourism gives necessary support for attracting significant investments into the various sectors of the economy.
Agriculture is the main occupation of the people in Andhra Pradesh. Rice is a major food crop and staple food of the State, contributing about 77 per cent of the foodgrain production. Other important crops are jowar, bajra, maize, ragi, small millets, pulses, castor, tobacco, cotton and sugarcane. The State has a strong base in horticulture, producing a variety of condiments, fruits and vegetables such as mangoes, citrus fruits, grapes, custard apples, bananas, pineapple, tomatoes and onions. It is the second largest producer of horticulture produce with 1.24 million hectare area under cultivation. It is also the leading producer of some of the spices such as chillies, turmeric, tamarind, ginger, coriander, etc. Moreover, forests cover 23 per cent of the State's area. Important forest products are teak, eucalyptus, cashew, casurina, bamboo, softwood, etc.
The agro food processing industries in the State are:- bread, oilseed meals (edible), breakfast foods, biscuits, confectionery, including cocoa processing and chocolate, oil expellers and refining, malt extract, protein isolates, high protein foods, weaning foods, ready to eat food products and other processed foods.
The Government of Andhra Pradesh has recognised the Information Technology (IT) sector as one of the major growth engine of the State. It aims to transform the State into a knowledge society and make available the benefits of IT to all citizens, especially those in rural areas. It seeks to make the State a leading destination for investments in Information & Communications Technology (ICT) and a major player in the information economy. The State has numerous advantages in terms of abundant availability of highly skilled IT manpower as well as world-class technical and social infrastructure. Also, a number of reputed corporates have made the State their home. Thus, IT in the State offer excellent opportunity for attracting Global IT companies and thus achieve the overall development of the economy.
A broad base of automotive component manufacturers and a large pool of highly trained, skilled and disciplined manpower make Andhra Pradesh the desired location for automobile industries. There are more than 100 automotive component manufacturing companies in the State, including first-tier suppliers. They specialize in precision aluminium castings, high pressure die castings, forging, machined components, pressed metal components, gears, pistons, leaf springs, front axles, brake liners, cylinder liners, clutch covers, fuel filters, nozzles, delivery valves, starter motors, alternators, grey-iron, oils and lubricants, diesel fuel injection equipment, electronics /electrical, electronic regulators, CAD/CAM design, etc.
Drugs & Pharmaceuticals
The State offer excellent opportunities for the growth of pharmaceutical industry in the country, due to availability of trained and skilled manpower; good infrastructure as well as research and development facilities. Hyderabad, which accounts for around one third of India's total bulk drug production, is considered as the drug capital of the country. A large number of bulk drug units are located in and around the State. The Government has also taken a decision for the establishment of a ‘Pharma City' near Visakhapatnam with private sector participation.
Mines and Minerals
Andhra Pradesh is the second largest store house of mineral resources in India. It includes vast deposits of coal, limestone, slabs, oil and natural gas, manganese, asbestos, iron ore, ball clay, fire clay, gold, diamonds, graphite, dolomite, quartz, tungsten, steatitic, feldspar, silica, etc. A wide range of these minerals find use in fertilizers, ceramics, refractories, abrasives, glass, foundry, oil well drilling, fillers and pigments. Also, the Singareni Coal Mines in the State supply coal to the entire South India. The State Government, in its Vision 2020 document, has recognized 'mines and minerals sector' as one of the growth engines for the overall development of industry and infrastructure. Besides, the State has immense potential of untapped and under-tapped minerals. It provides numerous opportunities for investment and development of minerals and mining projects.
Andhra Pradesh is truly a land of beauty and opportunity. It represents Indian culture and heritage in all its glory. It is famous for its pearls, chudi bazaar and unique biryani the world over. Beaches, hills, wildlife and forests, forts, historical monuments, Buddhist sites, national parks and bird sanctuaries are the major attractions of the State. It also possesses many holy temples with architectural beauty. The main places of tourist interest are:- Charminar, Salarjung Museum, Golconda Fort in Hyderabad, Thousand Pillar Temple and Fort in Warangal, Sri Lakshmi Narasimha Swamy Temple at Yadagirigutta, Buddha Stupa at Nagarjunakonda and Nagarjuna Sagar, Sri Venkateswara Temple at Tirumala-Tirupathi, Sri Mallikarjunaswamy Temple at Srisailam, Kanaka Durga Temple at Vijayawada, Sri Satyanarayana Swamy Temple at Annavaram, Sri Varaha Narasimha Swamy Temple at Simhachalam, Sri Sita Rama Temple at Bhadrachalam, Araku Valley, Horsley Hills, Nelapattu, etc. Besides, the statue of Lord Buddha with a height of about 60 feet has been erected on the Gibraltar rock in the Hussainsagar lake, which separates Hyderabad and Secunderabad cities.