Putting speculation to rest, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Tuesday announced that Visakhapatnam is going to be the State capital and he himself would shift to the port city soon.

“I am here to invite you to Visakhapatnam, which is going to be our capital, in the days to come. I myself would be shifting here in the months to come,” Reddy said while addressing an international diplomats alliance meeting in New Delhi.

Diplomats, representatives of companies, and officials from the State and Central governments participated in the meeting as a curtain-raiser for the Global Investors Summit (GIS) scheduled for Visakhapatnam March 3 and 4.

Elaborating on the facilities and resources available in the State for industrial growth, he said that out of the eleven industrial corridors being developed by the Centre across the country, Andhra Pradesh shares space for three of them — Hyderabad to Bengaluru, Visakhapatnam to Chennai, and Chennai to Bengaluru.

Business hub

As a fastest growing State in the country with a GSDP of 11.43 per cent, Andhra Pradesh had achieved the number one rank in the Ease of Doing Business (EoDB) and also retained it for the third successive year, the Chief Minister said. With a lengthy coastline of 974 km, the State has vast natural resources with 48 minerals, Reddy added.

The availability of various industrial clusters like textile, cement, medical, renewable energy, food, and automobiles would offer plenty of opportunities for industrialists to make investments in the State and grow their businesses besides employing the youth, he said.

The State has excellent connectivity with six seaports and six airports with four more seaports to be added soon. “The State stands as the gateway of South East Asia due to its strategic location having the added advantage of inland waterways,” he said.