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Indian Economy – Opportunities Unlimited
Indian economy continues to witness unprecedented growth driven by booming services and industry sectors. India's economy is on the fulcrum of an ever-increasing growth curve. With improved PE ratios and ROE, Indian markets have attracted large investments.
AP has 38 operational special economic zones (SEZs), higher than any other state in the country. It also has the highest number of IT/ITeS-related SEZs in India. “The hi-tech city” in Hyderabad is the largest IT facility in India. The revenues from the IT sector crossed the US$ 10 billion mark over 2012-13. IT exports are expected to grow from US$ 8.5 billion in 2011-12 to US$ 31.3 billion by 2017.
The state is the largest producer of spices, fruits and crops, including citrus, papaya, oil palm and tomato, in India. It also ranks first in the production of eggs, brackish-water shrimps and fresh-water prawns and third in milk production in the country.
AP is the first state to develop an Electronic Hardware Policy in India (2012-17), wherein, the state government plans to provide incentives for setting up more than 200 electronic manufacturing clusters in the state. Moreover, the state offers a wide range of fiscal and policy incentives for businesses under the Industrial Investment Promotion Policy, 2010-2015. Additionally, the state has well drafted sector-specific policies, besides having a large base of skilled, semi-skilled and unskilled labour.
As of September 2011, the state has received 7, 346 proposals for large scale industries, out of which, 3, 132 proposals have gone into production with an investment of US $ 15.4 billion, providing employment opportunity to 479,900 persons and 525 proposals with investment of US $ 18 billion are under implementation stage.