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Andhra Pradesh aims at attracting ₹1.85 lakh crore investment during Global Investors Summit in Visakhapatnam, says Minister

Around 2,500 delegates are likely to attend the two-day summit, scheduled to be held on March 3 and 4

January 25, 2023 09:29 pm | Updated January 26, 2023 10:45 am IST - VISAKHAPATNAM

IT and Industries Minister Gudivada Amarnath addressing entrepreneurs at a meeting in Visakhapatnam on Wednesday.

IT and Industries Minister Gudivada Amarnath addressing entrepreneurs at a meeting in Visakhapatnam on Wednesday. | Photo Credit: V. RAJU

Andhra Pradesh Information Technology and Industries Minister Gudivada Amarnath has said that the government is aiming at attracting investment of at least ₹1.85 lakh crore to the State during the Andhra Pradesh Global Investors Summit-2023 (APGIS 2023), scheduled to be held in Visakhapatnam on March 3 and 4.

Chief Minister Y.S. Jagan Mohan Reddy has a clear vision to make the State the most preferred global investment destination and India’s gateway to Southeast Asia by 2050. With this idea, he decided to host the first global event after forming the government. Almost two-and-a-half years of COVID-19 had put the event on hold until now,” the Minister told the media here on January 25 (Wednesday), adding that around 2,500 delegates were likely to attend the event and more than 200 stalls would be set up at the venue of the Andhra University Engineering College grounds.

The two-day summit will host multiple bilateral meetings with industry leaders, top business conglomerates, roundtables and sectoral sessions. The summit will conclude with a networking lunch with global entrepreneurs.

“Chief Minister YS Jagan Mohan Reddy wants to take this GIS 2023 as an opportunity to make the State the world’s most preferred investment destination for investors. He focused on 13 sectors for investment. The summit will be divided into three parts. One is the foundation stone for investments, the second is the inauguration of the companies and finally the MoUs,” Mr. Amarnath said.

The 13 sectors includes Aerospace & Defence, Agri & Food Processing, Automobile & Electric Vehicles, Electronics & IT, Healthcare & Medical Equipment, Industrial & Logistics Infrastructure, MSME, Startups & Innovation, Petroleum & Petrochemicals, Renewable Energy, Life Sciences, Education, Textiles, Tourism & Hospitality.

The government organised a meeting here on Wednesday to interact with industrialists, seeking their participation in the summit. Mr. Amarnath explained about ‘Advantage Andhra Pradesh’ and Ease of Doing Business (EoDB) to demonstrate the State’s importance in holistic socio-economic progress, emerging opportunities and the focus areas of the economy.

Curtain Raiser in Delhi on January 31

Special Principal Secretary of Industries and Commerce Department R. Karikal Valaven said that ambassadors and representatives from 50 countries, along with chief executive officers of prominent global organisations, will attend a meeting in New Delhi on January 31. Chief Minister Y.S. Jagan Mohan Reddy, along with representatives of Ministry of External Affairs, will attend the meeting. On the same day, a curtain raiser event will be held.

G. Srijana, Director of Industries, spoke about the outline of the two-day summit. She said that international and domestic investors, policy makers, diplomatic activities and investment institutions from different countries, country business representatives, influencers, industry associations, emerging economy members and trade organisations will participate in the summit to explore opportunities and enter into long-term partnerships.

“As part of the summit, the State has planned business-to-business (B2B) and business-to-government (B2G) meetings, keynote addresses and sector-specific plenary sessions,” Ms. Srijana said.

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