The energy sector in Andhra Pradesh attracts investment commitments worth 8.84 Lakh Cr as the state aspires to emerge as a leader in renewable energy
Union ministers committed to continued investment in the infrastructure sectors such as ports, fishing harbours, railways, highways, airports, etc. Industry leaders made commitments to invest in sectors such as Energy including renewables, IT and ITES, Tourism, Pharma and healthcare, and manufacturing.
Visakhapatnam, 4th March 2023: Global Investor Summit 2023 by the Andhra Pradesh government continued to receive a series of investment proposals on the second day today. Another set of 260 MOUs was signed today taking the total to 340 investment proposals worth Rs13 lakh cr.
"Sri Sarbananda Sonowal, Hon'ble Union Minister of Ports, Shipping & Waterways and AYUSH, Government of India underlined the continued support extended by the central government for the development of infrastructure projects in Andhra. “Under the PM’s initiative of Sagar mala more than 110 projects worth around Rs 1.1lakh crores have been identified for implementation in the state of Andhra Pradesh of which 35 projects of Rs 32,000 Crores have already been completed, said Shri Sonowal. For the upliftment of the fishermen community, 5 fishing harbour projects worth Rs 1,500 crores have been sanctioned for funding under the Sagar mala program.
Sri G. Kishan Reddy, Hon'ble Union Minister of Culture, Tourism, and Development of North Eastern Region, Government of India highlighted the potential of Andhra. “AP has a competitive advantage in sectors such as marine products and shrimps, drugs and pharmaceuticals, electronics, petroleum, engineering goods, etc. There is a clear opportunity for the state and center to work together in taking AP to new highs, mentioned Shri Reddy. “Our railway budget allocation for AP has increased 9 times from Rs886 cr in 2014 to Rs8,406 cr now. We will be building 72 world-class railway stations in Andhra. AP is the only state to have 3 industrial corridors passing through the state. The total investment cost for Visakhapatnam smart city is Rs3000 Cr, the honourable minister added.
Sri Gudivada Amarnath, Hon'ble Minister of Industries, Infrastructure, Investment & Commerce, Information Technology and Handlooms & Textiles, Government of Andhra Pradesh underlined the strong footprint of global companies in the state and enthusiastic participation of many more prospective investors. “AP can give opportunities across the spectrum, across sectors, and across the value chain. The state has housed facilities of companies representing North America, Europe, Asia, Australia, and Africa. The strong international community at the summit clearly reflects our global connection. While supporting larger anchor investments government also provides support to our MSME sector which is a vibrant and critical component of our economic growth and employment. To match the abundant strength of the state in terms of resources, talent, and infrastructure availability the government will work in equal measure with energy and enthusiasm to meet the expectations. We look forward to working with all to develop AP as India’s economic power engine under the dynamic leadership of Shri YS Jagan Mohan Reddy Garu, said Hon'ble Minister.
In his welcome address, Dr. K.S. Jawahar Reddy - Chief Secretary, Government of Andhra Pradesh emphasised, “As a state, we have a fast-tracked institutional mechanism that ensures all industry approvals within 21 days and also a single window that brings together 96 services of 24 government departments in one place. We would like to reassure the industry fraternity that we will take great care in providing the necessary hand-holding support to the corporate sector through their investment journey in the state of AP.”
Sri Satish Reddy, Chairman, of Dr. Reddy's Laboratories recognised the traditional strength of the state in the field of pharmaceuticals. However he added, “The real value, moving from volume to value will come from innovation for example med tech zone has done well, I hope Andhra can show the way.” He lauded the work of the state government, “Regulatory framework in the state is exemplary. In terms of social indicators including healthcare, we are extremely fortunate that the Arogya Shri program started by late YSR Reddy Garu has improved the medical infrastructure. I am sure that the programs that honourable CM Shri YS Jagan Mohan Reddy Garu has started and he is planning to start can transform the remaining healthcare sector and set an example for the whole country of a modern healthcare system that’s all we look forward to.”
Another leader from the Pharma industry Sri Satyanarayana Chava Founder & CEO, of Laurus Labs, shared an optimistic outlook for the state. “Andhra remains the bulk drug capital of the country even after the split. Some of the largest API units are operating in the State. We have grown from one employee in 2007 to 8000 today. That was possible only because of the ecosystem, proactive government, and bureaucracy, reachability of the leaders and administration. AP does not need to market, if they just put more industrial areas and investments will come. The state is leading in digital drive making the process fast and transparent including drug controller approvals that come faster compared to other states,” Sri Chava added.
Dr. Vamsi Krishna Bandi, Managing Director, Hetero Group of Companies underlined, “post-pandemic as more countries look at India as a partner of choice in Pharmaceutical sectors Andhra Pradesh is the ideal place to take advantage of because of its well-established ecosystem. We will be investing about 1000 CRs in Andhra Pradesh over the next 2 years to grow our pharmaceutical and specialty business this will generate employment of a minimum of 3000 people.”
Sri Sergio Lee, Director & Group Head, India Operations, Apache & Hilltop Group announced his investment plan. “I would like to announce we have decided to continue to invest in AP  state another $100Mn investment with a potential of generating 10,000 jobs in Thirupati, Shri Lee said.

Smt. Suchitra K. Ella, Chairperson - CII Southern Region offered to participate with the state government in improving various social indicators. Smt Ella underlined, “According to the world bank data women make up 43% of the total graduates in science technology engineering, and mathematics in India, one of the highest in the world but just 14% of the scientists, engineers, and technology professionals are women. I would like to see how AP can differentiate, CII will be happy to work with you,” she said.
Sri Santhanam B. Chief Executive Officer, Saint Gobain Asia-Pacific & India noted, “In terms of credibility, in my experience, I can say AP walks the talk and talks the walk. I am going to go back and say this is the state where we can have 100% renewable energy powering our factories"
Sri Vineet Mittal - Chairman, of Avaada Group highlighted how renewable energy investment will yield rich dividends across industries. “Andhra plays an important role as India is moving towards renewable energy worldwide and becoming the net Zero Maverick in the world. Andhra is blessed with an abundance of sun and wind and has done a great job in identifying the sites for pumped hydro. Thus, AP has taken the leadership role with the right mix of solar, wind, and pumped hydro state to become a pioneer not just in India but across the world in the green energy transition. As Avaada group we are going to be investing hugely into integrated energy stories into solar, wind, and hydro project along with large green ammonia and green hydrogen project in the state.” Shri Mittal assured.
Sri Gajanan Nabar, CEO & Managing Director, Nova Air assured of his company’s commitment to invest in the state. “We have seen a lot of confidence and trust in state leadership, and state teams, and trust and confidence are rightly put in all the industry captains. This state is number one in growth 11.47 percent which is number one in ease of doing business. Has such fantastic visionary leadership very sound formation of policies expert administrative machinery to roll out the policy,” he added.
Honourable CM Shri Jagan Mohan Reddy urged for quick implementation, “I sincerely request all of you to move from the MoU stage to the grounding of your investments in Andhra Pradesh at the earliest. Assuring you all that our government will demonstrate our “speed of facilitating business” taking matters forward,” said honourable Chief Minister while thanking the delegates.
Sri R. Karikal Valaven, Special Chief Secretary, Industries & Commerce and Infrastructure & Investment, Government of Andhra Pradesh delivered a vote of thanks concluding the highly successful GIS2023.

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