Investors leaving Andhra Pradesh, alleges YSRCP; Govt dismisses claims

New Delhi: The Opposition YSRCP has alleged that investors are withdrawing from Andhra Pradesh due to harassment by ruling TDP and Jana Sena leaders and the state's fragile fiscal situation - a charge the government has rejected.

The YSRCP has cited seven projects, with a combined proposed investment of ₹18,538.98 crore, and pointed out that the companies have decided to invest in other states. The list includes Tata Power's ₹6,675 crore ingot/wafer project, Websol's ₹3,538 crore renewable cell/module project, RVR Projects' ₹3,157.5 crore pumped-storage project, Jupiter's ₹2,700 crore cell/module project, Hindustan Coca-Cola's ₹1,199.3 crore beverage project, Ginfra Precisions' ₹1,150 crore BMCS project and I-Space's ₹119.18 crore IT campus.

YSRCP leader Krishna Duvvuri said the party was "increasingly witnessing" cases of investors who had once expressed interest in investing in the state but were now withdrawing. "This dangerous trend clearly evidences dwindling investor sentiment in the state. This is because of two reasons: harassment from leaders belonging to TDP and JSP and, secondly, the lack of trust in the state's fiscal situation, which is increasingly becoming fragile under the present government."


The Andhra Pradesh government rejected the claims, saying investor confidence had strengthened under the present administration. In a written response to ET, the government said, "After the destructive policies of YSRCP government, Andhra has today emerged as one of India's most attractive investment destinations. Last year, AP accounted for nearly 25% of all proposed investments in India. Our cumulative investment commitments since we came to power are around ₹20 lakh crore... In any large and dynamic economy, there will always be individual companies that choose to expand or invest elsewhere for commercial, strategic or business-specific reasons. The larger picture is clear: investor confidence in Andhra Pradesh has returned strongly, projects are being grounded at scale, and AP continues to be among the most attractive investment destinations in the country."