Amaravati, Oct 31 : Andhra Pradesh Minister for Information Technology and Electronics Nara Lokesh has said that Andhra Pradesh is fast developing as a start-up and manufacturing hub.

Currently, on a visit to the U.S., he told the Indian diaspora and US-India Business Council representatives that this is the right time to invest in the State.

The state government is following investor-friendly policies and the State has a long seacoast along a wide highway network besides having transport facilities through sea and by air, Lokesh said adding that this is the most favourable time for anyone to invest in the State, according to an official statement here

Andhra Pradesh is moving towards rapid development under the able leadership of Chief Minister Chandrababu Naidu, he said, adding that very soon the state will be transformed into a start-up and manufacturing hub.

"We are developing an ecosystem for industrial growth and we have already revived the Economic Development Board to see to it that there is no delay in according permissions for setting up industries," Lokesh told the Indian diaspora and US-India Business Council delegates in San Francisco during his ongoing visit to the US as part of his mission to attract investments to the State.

The minister said that as part of decentralising development Anantapur is being encouraged to set up automobile units, renewable energy in Kurnool, IT, pharma and medical equipment manufacturing units in Visakhapatnam and Prakasam districts are promoted as biofuel manufacturing centres while the aqua industry in both the Godavari districts.

Observing that the construction works will soon be resumed in the capital city of Amaravati with the latest technology, Lokesh said that an Artificial Intelligence (AI) university will soon be established to produce experts with international standards.

The Minister for IT and Electronics asked them to come forward to invest in the State where they have a very favourable atmosphere.

The founder of the India diaspora, Rangaswamy, the executive members of the US-India Business Council, Kavitha Mariyappan, Siva Sivaram, Ramakanth Alapati and several others were present at the meeting.

/IANS