Economy and Business in Cuddapah
Per head Bank Credit for Agriculture amounts to Rs. 2979.
Industries in Kadapa
More and more industries, both the micro and medium scale industries are being registered every day. Approximately an average of 150 new industries including micro as well as medium scale industries are registered every year. Industrial areas, development projects, large scale excavation processes including clusters for various regional profitable business also contribute their part in the Kadapa’s economy.
In 2011, the total Investment in all kinds of industries has been approximately amounted to 193 crores. This huge amounts of investment has also sent ripples of positive effects in many fields of the economy of Kadapa. The employment of 39656 people in different scale industries across Kadapa signify the huge silhouette of Industrial vastness in Kadapa.
However, mining has always been the major large scale business in the region. Among all the registered industries, Mining industries shoot for a huge majority. There are about 2664 mining industries in Kadapa according to government records in 2011-12. The geographical advantages of the Kadapa basin has made this particular industry flourish more than anything else. Abundant minerals of barytes, limestone etc. is a huge attractor of investors from all over the country to this region. Besides these, Tourism, Agriculture also contribute significant revenues to the economy.
The APMDC (AP Mining Development Corporation) has put a lot of effort in exploring minerals in Kadapa basin and also in the maintenance of the industry. The Region is full of many commercial and rare minerals which made the Mining Industry to gain command over the economy of Kadapa. The discovery of Fullerene deposits in the Kadapa Basin has astounded the nation. The estimated revenue that’s going to be generated by the mining of Fullerene minerals is unimaginably high. Early estimates reveal deposits of 74 million tonnes of fullerene. Each gram of fullerene costs around 2000$ which vaguely accounts for 120 billion rupees!
The other industrial segments of Kadapa are cement manufacturing, steel, oil and natural gases and also Agro industries like Cotton, Sugar and Gunny bags Industries. All these industries are under the estates of APIIC, AEP, AEP etc. The leading number of Mining Industries is followed by Agro Industries (554 registered) which is further followed by electronics industry. In total, there about 24 Industrial estates promoting, publishing and funding the Industries in the state.
To find a list of Industries in Kadapa, Click Here
Important Factors Contributing to the Economy of Kadapa
The Bio mass utilization for generating energy is an excellent source of renewable energy and cutting down expenses on regular fossil fuels. There is a Bio Mass power plant in Kadapa that's being run with an investment of 43 crores. This plant although produces a small amount of electricity amounting to 6MW when compared to RTTP, the potential growth of such eco-friendly power stations is high and also very essential to avoid the imminent threats endangering environment. These plants also help in reducing the cost burden of production when compared to other conventional means of producing electricity.
Balaji Bio Mass Power Plant in Kadapa located in the Villages of Kokkirayapalli and also Chennur, besides generating an alternative source of energy, also provide employment to nearly 100 people.
Kadapa also has a good transport network which has helped in the growth of the economy. Road and railways connects Kadapa to all the major cities of India.