Split Won't Hit Investments: Geetha Reddy

Major Industries Minister Dr. J Geetha Reddy, on Monday, maintained that the bifurcation of Andhra Pradesh would not affect industrialists and investments in both the resulting states.

Addressing a meeting of industry leaders, industrialists and entrepreneurs at a private hotel in Hyderabad, Geetha Reddy said that there would not be any deviation from the government's industry-friendly policies post the split.

"We will continue to offer the same investor-oriented administration even in future, if not better. It is also possible to provide unique incentives for specific investment activities, depending on the needs of specific areas. All incentives, benefits and facilities offered previously by way of government orders or MoUs will remain valid regardless of where your investment is located," she said.

Geetha Reddy said that each region of the state has unique resources and industry advantages. "The choice of any investor will be based on the availability of infrastructure, like land, road networks, rail networks, port and airport connectivity, power supply, waste management and resources available at a particular location. Given the rich natural resources and strong infrastructure across all regions of the state, I'm confident that we will remain a favourite investment destination even in future," she said.

"The allocation of assets between the two states will be done according to well-established norms, and will take into account all local requirements. After examining all aspects, the government of India will prepare the terms of reference according to which subject experts from the Centre and the state will carry out the division of assets in the most optimal manner," Geetha Reddy said.

Requesting investors to go ahead and invest in any region of the state, Geetha Reddy appealed to them not to yield to apprehensions of any kind.

"The recent developments will not have any impact on the investments in the state," she said.

"I would like to assure all the past, present and future investors that your investments will be safe," she said.

Further, she said that there would be no forced relocations, either of facilities or employees.

Speaking about Hyderabad, Geetha Reddy said, "Hyderabad was always a cosmopolitan city, with people from all over India finding employment here, even from the times of the Nizam. I'm confident that it will remain a cosmopolitan city."

She said that growth in and around Hyderabad should not stop, and that the government would work with industry leaders and investors to ensure a higher trajectory of economic development.

Representatives of CII, FICCI, FAPCII and other industries participated in the meeting.

Talking to reporters later, Geetha Reddy said that the Congress party would form governments in both the states of Telangana and Andhra Pradesh, and would continue its industrial policies.

CII's AP president said that the minister's assurance would improve the investment atmosphere in the state. Principal Secretary (Industries) Pradeep Chandra also spoke at the meeting. (INN)