Andhra Pradesh: Economic Highlights

Overview
Andhra Pradesh, one of India’s fastest-growing states, recorded a GSDP of ₹12.81 lakh crore in 2023–24, with a growth rate of 12.5%. The state’s per capita income stands at ₹2,02,350, reflecting consistent economic growth. The economy is driven by agriculture, manufacturing, and services, with Visakhapatnam and Amaravati serving as the key business hubs. The state’s coastline and strategic location provide significant opportunities for trade and port development.

Why Invest in Andhra Pradesh

• Strategic Location: Coastal state with access to major international trade routes.
• Agricultural Strength: Leading producer of rice, groundnuts and seafood.
• Industrial Growth: Focus on electronics, automotive, and textiles industries.
• Government Support: Pro-business policies aimed at boosting infrastructure and investment.

Incentives & Schemes

• Industrial Investment Policy: Fiscal incentives, subsidies, and exemptions for setting up industries.
• Agricultural Infrastructure: Focus on irrigation, warehousing, and food processing.
• Port Development: xpansion of existing ports and promotion of new ports for logistics.

Key Economic Data: Andhra Pradesh

Category	Details
Capital	Amaravati (Legislative), Visakhapatnam (Executive)
GSDP (2023–24)	₹12.81 lakh crore
Growth Rate	12.5%
Per Capita Income	₹2,02,350
Top Sectors	Agriculture, Manufacturing, Services
FDI Share in India	4%
Top FDI Sources	UAE, Singapore
Cumulative FDI (FY2024)	₹5,500 crore (Q1)
Policy Impact	Focus on industrial development and infrastructure growth
Recent FDI	₹1,200 crore (2020–21)

Latest Insights

• Andhra Pradesh attracted ₹5,500 crore in cumulative FDI by Q1 FY2024.
• Agriculture and manufacturing continue to be the backbone of the economy.
• Government-backed initiatives are strengthening infrastructure, particularly in ports and logistics.