The YSRCP government is heavily banking on cycle.
In a move to accelerate industrial development, industries minister Mekapati Gautam Reddy impressed upon a Taiwanese delegation for bicycle exports. Representatives of Taiwanese companies met Mekapati at the APIIC office in Mangalagiri. The meeting was attended by representatives from Taiwanese companies such as Fox Link, PSA Walsin, Apache, and Green Tech.
He gave a presentation to the Taiwanese delegation in Amaravati on the opportunities of Taiwan bicycle exports. He said e-bicycles are in high demand in rural areas, especially useful for farmers. After a meeting with the Taiwanese team led by Taiwan Director general Ben Wagn, he directed the officials to conduct a survey by November 15 on the usage of cycles in rural Andhra Pradesh.
He tried to hard sell investments in Andhra Pradesh stating that the state has adequate land, skilled manpower, water, ports, airports for a conducive business environment.
Andhra Pradesh’s image as an investment-friendly state was severely damaged following a series of unsavory decisions taken by the Jaganmohan Reddy’s government.
The state received a major blow when Abu Dhabi’s LuLu Group pulled out of a Rs 2,200-cr project after the Jagan government canceled the land allotted by the previous TDP government. Former chief minister Chandrababu Naidu had roped in LuLu Group and allotted 14 acres of land in Visakhapatnam for the construction of an international convention center, shopping mall, and a five-star hotel.
The YSRCP government had also canceled an agreement with the Singapore consortium of companies to develop a start-up area, planned in an area of 1,691 acres, to serve as the financial hub of new Andhra Pradesh capital Amaravati. This was followed by Reliance Industries which had withdrawn its move to set up Rs 15,000 crore electronics manufacturing hub near Tirupati, and Adani group pulling out of its proposed data center and tech park at an investment of Rs 70,000-crore.
The Andhra Pradesh government has failed to attract any significant big-ticket investments in the last more than one year of its rule. Mekapati Gautam Reddy’s meeting with the Taiwanese team is unlikely to attract major investments into the state. Most of the Taiwanese companies that met the industry minister are not big investors.
