Government of Andhra Pradesh, with the objective of promoting sustainable economic growth through trade, investments and partnerships into the State has established the Economic Development Board, Chaired by the Hon'ble Chief Minister of Andhra Pradesh N Chandrababu Naidu, it is a single point of contact for trade, investments and partnerships in the state of Andhra Pradesh.
The Sunrise state of Andhra Pradesh is India's foremost investment destination and the fastest-growing economy in the country, with GDP growth rate of 11.61% during 2016-17.
The state is ranked No.1 in the World Bank's Ease of Doing Business. Andhra Pradesh is also significantly reducing the cost of doing business through sustained investments, expenditures and outlays in infrastructure, logistics, skill development, and technology.
Andhra Pradesh offers the best ecosystem for Pharmaceuticals and Biotechnology and is on the verge of renewed growth by proposing four mega clusters for API, formulations and fermentation, bio-pharma and veterinary. The proposed clusters offer a myriad of benefits such as reduced capital investment due to shared infrastructure and services, increased ease of doing business due to an integrated network of suppliers-service providers-regulators-customers, single window clearances, common facilities, excellent connectivity and social infrastructure etc.
Andhra Pradesh is a strong base for global pharmaceutical majors like Pfizer, Eisai, Mylan, Dr. Reddy's and Aurobindo apart from having synergies and linkages in the entire value chain.