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YSRCP MLC Mondithoka Arun Kumar alleged that Tata Power's decision to shift a proposed investment to Odisha reflects the coalition government's failure to retain investors and sought greater transparency on investment claims.
Amaravati: YSRCP MLC Mondithoka Arun Kumar on Tuesday alleged that Tata Power's decision to shift its proposed Rs. 6,675-crore investment from Andhra Pradesh to Odisha exposed what he described as the coalition government's failure to retain major industrial investments.
Addressing the media, Arun Kumar criticised the government's claims of promoting the "speed of doing business," alleging that it had instead created a "cash for doing business" environment where investors faced undue difficulties.
The YSRCP leader said the government had repeatedly claimed to have attracted Rs. 23 lakh crore in investments and promised 20 lakh jobs over the past two years.
However, he alleged that data released by the Union Government presented a different picture, claiming that only two out of ten proposed projects had been completed during the period.
According to Arun Kumar, actual investments received by Andhra Pradesh amounted to around Rs. 6,500 crore, generating approximately 22,167 jobs.
Arun Kumar alleged that companies including Tata Power, Hindustan Coca-Cola Beverages, Azad India Mobility, GINFRA and Jupiter Renewables had either withdrawn their proposals or moved their investments out of Andhra Pradesh.
He claimed that investments worth nearly Rs. 12,890 crore had shifted away from the state and demanded that the government explain the reasons behind the alleged loss of investment opportunities.
According to him, investors were becoming increasingly concerned about the business environment rather than the scale of their proposed investments.
The YSRCP MLC demanded the constitution of an independent committee to examine why industries were allegedly leaving Andhra Pradesh.
Referring to Amara Raja Batteries, Arun Kumar said the company's decisions were influenced by pollution regulations and court directions, and alleged that the issue was being politically misrepresented.
He urged the government to place complete details of investments before the public, including project implementation status, employment generated, incentives extended to industries and information on companies that had withdrawn investment proposals.
Concluding his remarks, Arun Kumar said Andhra Pradesh required greater credibility, investor confidence and accountable governance rather than what he described as inflated investment announcements.
