Gulte Telugu news
The reverse tendering and anti investment friendly approach taken by the previous YCP government in Andhra Pradesh resulted in several elite companies revoking their investment plans here. While the Lulu Mall in Vizag is one example, the Amara Raja’s mega manufacturing plant is another citation.
Due to the hostile atmosphere created by the Jagan government due to the existing political rivalry, Jadev Galla’s Amara Raja research and development and a Greenfield manufacturing facility for Lithium-Ion battery plant moved to Telangana. The plant is set up in Mahabubnagar and the company intends to invest a whopping Rs 9500 crore into this plant in the next 10 years.
However, the catch here is that the Amara Raja management was in good terms with the then BRS government and was assured industrial incentives and other perks. But with the change in government, the dynamics have changed completely.
When asked about this, Galla said it is true that the earlier BRS government promised requisite financial incentives to set up the plant here. “If the new Telangana government doesn’t honor these agreements, it would pressure us financially and we will have to look to move elsewhere.” He commented.
Now that it is evident that Jay Galla is looking for alternatives in case the Telangana government doesn’t honor the inventive plan, Andhra Pradesh’s name is coming up.
There is no better man to create a safe and secure investment ecosystem than Chandrababu and moreover, he shares a very close rapport with Jay Galla. There is a very good chance that Galla would abide by Naidu’s work in case he wishes to move his Amara Raja plant outside Telangana. The obvious destination would be Andhra Pradesh then.
If at all the Telangana government doesn’t work proactively to keep ahold of this investment project, then it shall be seen if CM Babu will work on this case and propel Galla to come set up this mega plant in AP which would boost the revenue engine and also create employment opportunity.
