CII Summit investments are a myth: all hype, no reality

Visakhapatnam, Nov 16: YSRCP Anakapalli district president and former minister Gudivada Amarnath came down heavily on the coalition government’s CII Partnership Summit, calling it a publicity-driven event with no real investments. Speaking at the YSRCP Visakhapatnam office, he said the stage was filled with ministers instead of industrialists, exposing the government’s lack of credibility. He contrasted this with the 2023 Global Investors Summit under Y.S. Jagan Mohan Reddy, where top industry leaders like Mukesh Ambani, Karan Adani, Dalmia, Naveen Jindal, Sanjay Banger, Bhajanka and others attended, reflecting genuine investor confidence in Andhra Pradesh.
Amarnath accused Chandrababu Naidu of copying YSRCP schemes and even stealing the vision of the previous government. He said that while Naidu served four terms as Chief Minister, he never thought of developing the 974 km coastline, whereas YS Jagan initiated ports and fishing harbours every 50 km, projects Naidu now falsely claims as his own. He mocked Chandrababu’s so-called “vision”, which he said only extended to bikini festivals and liquor-based events on the coastline.

Criticising Naidu’s remarks on the Visakhapatnam Steel Plant, he questioned how a government that cannot save the state’s largest industry or protect its employees can promise 40 lakh jobs. He reminded that Naidu boasted MoUs worth Rs. 19 lakh crore between 2014–19 and claimed 40 lakh jobs, but only Rs. 35,000 crore, just 2%, actually materialised. After YSRCP came to power, verification exposed these exaggerated and misleading claims.

Amarnath noted that despite the disruptions caused by three COVID waves, the 2023 GIS was held only after conditions stabilised and under instructions from Jagan to sign only credible MoUs. Within a year, 19% of the Rs. 13 lakh crore MoUs were grounded, comparable to national standards like Vibrant Gujarat.

He criticised the coalition government’s first summit post-2024, saying no new investments were disclosed and that photographs from both summits clearly show who inspired real confidence. While the 2023 stage was filled with industrialists and only two ministers, the latest summit had the entire cabinet onstage, with only Karan Adani and GMR’s Mallikarjuna Rao representing industry. He said Chandrababu and Lokesh used the summit merely to praise each other, repaint old 2018 MoUs, including ABC Power and Ekaran Energy, and showcase them as new agreements.

Exposing the relaunch of ReNew Power as pure rebranding, he questioned why its chairman, Suman Sinha, who earlier praised AP under YSRCP, now claims he is returning after six years, revealing who truly threatened industries. He pointed out that despite being showcased since 2016, Lulu Group still has not built anything in Vizag, while Inorbit Mall, grounded in 2023 by YSRCP, is set for inauguration in January 2026.

Calling Chandrababu a “vision thief” and “credit chor”, he said the TDP government merely renamed schemes like Amma Vodi, Rythu Bharosa, Village Secretariats and Aarogyasri. He condemned the Steel Plant’s mismanagement, unjust salary circulars, and removal of nearly 9,000 employees since 2024, questioning how Naidu can promise new jobs while destroying existing ones.

He said the summit’s shifting claims, 400 MoUs worth Rs. 9 lakh crore suddenly becoming Rs. 13 lakh crore, expose its PR-driven nature. While arrears like fee reimbursement, Aarogyasri dues and Annadata payments remain pending, the government continues spending on image building. He demanded accountability for the Rs. 2.20 lakh crore borrowed and warned that people will soon see the government’s true face.

Responding to media, he reiterated that 19% of the Rs. 13 lakh crore MoUs from 2023 are already grounded, with major progress in pumped-storage projects across Kurnool, Parvathipuram and ASR districts, reflecting the YSRCP government’s sincerity and diligence.