The Hindu Business Line : ‘AP better positioned to attract investments’

‘Opportunity enormous’: Mr Ron Somers, President, US-India Business Council, interacting with Ms J. Geeta Reddy, the Andhra Pradesh Minister for Major Industry, during a meeting organised by CII and USIBC in Hyderabad on Thursday.

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Hyderabad, Sept. 25 Andhra Pradesh is better positioned to attract investments from the US despite the recent global economic slowdown, said Mr Ron Somers, President, US India Business Council (USIBC). “The visiting US delegation is very impressed with the conducive business environment here. Though it is difficult to quantify, the investment opportunity is enormous in Andhra Pradesh,” he said while speaking to reporters on the sidelines of a session on India-US Economic Cooperation, organised in connection with the visiting US-India Business Council Executive Mission to India, by CII here on Thursday.

KG basin spur

Mr Somers added that the recent gas find by Reliance Industries in the KG Basin, one of the largest in the world, will also spur a lot of economic activity, “All along the pipeline there will be ancillary downstream facilities which will come up and be instrumental in transformation of the State’s economy,” he said.

He also felt that the State’s regulatory framework was very comfortable and ahead of others and it was important to bring US businessmen to expose them to the opportunities where the regulatory framework was taking good shape.

“We are exploring the framework with regard to agriculture and learning so that we can find where the gaps are which will help us in giving recommendations to the Governments,” Mr Somers said. According to him, some States are more progressive that others in terms of reforms and it was important to create a good profile to attract investments.

“The agricultural sector, increasing efficiency and productivity and spurring the next Green Revolution is an important area. Similarly, areas like public health and education needs to be given more attention to enhance efficiencies,” he said.

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