Vishakhapatnam, March 03, 2023: The Global Investment Summit 2023 was a Mega success. The Chief Minister of Andhra Pradesh, Y.S. Jagan Mohan Reddy managed to get the best companies in India and abroad to invest in his vision of the new Andhra Pradesh – Advantage Andhra Pradesh where abundance meets prosperity. On the first day of the summit, a total of 92 Memorandum of Understanding (MoUs) was signed amounting INR 11,87,756 crores, generating 3.92 lakh employment in the state.
The Energy Department attracted 35 investment proposals with INR 8.25 lakh crore investment generating 1.33 lakh employment. Followed by Industries & Commerce that attracted around 41 proposals with an investment of INR 3.20 lakh crore that will generate 1.79 lakh employment. The IT and ITES Department managed to get 6 proposals with investment of INR 32,944 crores which will generate employment for 64,815 people. The Tourism Department managed to get 10 proposals with investment of INR 8,718 crores which will generate employment for 13,400 people of the state.
Amongst the major investors are, the National Thermal Power Corporation (NTPC) has signed 3 MoUs with an investment of INR 2,35,000 crore which will generate employment for 77,000 people. JSW Group signed 6 MoUs, the largest amongst the lot with an investment of INR 50,632 crore which will generate employment for 9,500 people. Whereas ABC Limited as signed 1 MoU with an investment of INR 1.20 lakh crore generating employment 7000 people of Andhra Pradesh. Aurobindo Group signed 5 MoU’s with an investment of INR 10,365 crores which will generate employment for 5,250 people. Adani Green Energy has signed 2 MoUs with an investment of INR 21,820 crores which will generate employment for 14,000 people. Aditya Birla Group has signed 2 MoUs with an investment of INR 9,300 crores which will generate employment for 2,850 people. Jindal Steel has signed 1 MoU with an investment of INR 7,500 crores which will generate employment for 2,500 people.
First day witnessed, a total of 64 companies signing MoUs with the Andhra Pradesh government which can be called as a mega success of this investment drive by the Chief minister, Y.S Jagan Mohan Reddy. The investment drives which were started from Delhi, followed by Bangalore, Chennai, Mumbai, Hyderabad culminated into a grand success at Vishakhapatnam summit. There are many more proposals to be signed on the second day of the summit.
Consistent improvement in the governance framework to create hassle-free investing is augmented by hard infrastructure. The improvements have been duly recognised and the state has received various awards over the last year alone. To name a few the LEADS award for logistics 2022, the Inertia Award for Energy 2022, and the ET award for port-led infrastructure projects 2022.
The sprawling sports grounds of Andhra University is hosting the two-day meet, where about 200 stalls have been set up, including over 30 showcasing the various advantages of investing in Andhra Pradesh in 13 crucial sectors identified by the government. The venue consists of five massive halls and each hall will host different events such as government-to-business (G2B) meetings, seminars, and meetings. Over 8,000 dignitaries and investors from across India and 40 other countries including China and USA are attending the event.
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