'New state law to shield investors in Andhra Pradesh'

Andhra Pradesh is planning an Investment Protection Act and escrow accounts to reassure investors about policy continuity and incentives. Chief minister Chandrababu Naidu also has plans for further investment, and reforms aimed at accelerating business and economic growth.

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In the last two years, Andhra Pradesh has attracted droves of investors, who have pledged to bring as much as ₹22.5 trillion into the state. However, some have voiced concerns about the state's fiscal position and its ability to honour incentive commitments. The state's vicious politics has also raised questions of policy continuity.

In an attempt to reassure investors, chief minister Chandrababu Naidu is considering what will be India's first legislation to protect investors. In an interview ahead of the CII Partnership Summit in Visakhapatanam today, Naidu talked about the state's business-friendly policies and responded to critics. Edited excerpts:

About the Author

N Madhavan has been writing on business and economy for more than 30 years now. A Chevening Scholar, he loves longform writing and has had the privilege of honing his skills at The Economist as an intern in the past. He writes across various sectors, with a primary focus on macro-economy, business groups in southern India, and corporate stories.

He has worked in newspapers as well as magazines, with bylines in The Financial Express, Business Today, Forbes India and The Hindu BusinessLine. This is his fourth year at Mint where he presently curates the explanatory Primer section and also writes Long Stories. <br><br>Based in Chennai, he is the winner of the Shriram-Sanlam Award for Business Journalism. He loves ground reporting, including travelling in a truck twice between Chennai and Mumbai, to bring life to the stories he works on.

He was once almost lynched while reporting on onion prices at Lasalgaon in Maharashtra, a fact he captured in the story he eventually wrote for Business Today. <br><br>Apart from writing, he loves reading, listening to music (Ilayaraja is his favourite composer) and travelling.

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