Chief Minister Y.S. Jagan Mohan Reddy virtually inaugurated 14 industries, set up at a cost of ₹3,841 crore and with an employment potential of 9,108 jobs at various places in Andhra Pradesh, from the venue of the two-day AP Global Investors Summit, which concluded here on Saturday.
Addressing the delegates and investors at the valedictory, Mr. Jagan Mohan Reddy said that the summit helped in projecting A.P. as the favoured investment destination in India, both for national and international business community. In all, 352 memorandums of understanding (MoUs) were signed with a total commitment of ₹13.05 lakh crore and generation of over 6 lakh jobs. A significant investment commitment was in the area of renewable energy sector. Of these, 260 MoUs worth over ₹1.17 lakh crore in more than 13 sectors were signed on the second day of the summit.
Monitoring committee
Thanking the industrialists and investors for the overwhelming response, the Chief Minister appealed to them to show the same enthusiasm in grounding of the projects. He said: “We are committed to facilitating speedy grounding of the projects, and for this purpose a monitoring committee, to be led by the Chief Secretary and the Special Chief Secretary (Industries) will be formed which will meet every week to closely track the follow-up action on the MoUs.”
He said that 15 sessions were organised during the two days to focus on the strengths of A.P., which included renewable energy, electric vehicles, medical equipment and tourism sectors. Four country sessions on UAE, Netherlands, Vietnam and Australia were also conducted to explore the opportunities for collaboration with A.P. Several bilateral meetings with diplomats, ambassadors and Indian and foreign investors proved fruitful, Mr. Jagan Mohan Reddy said.
Union Minister of Ports, Shipping & Waterways and Ayush Sarbananda Sonowal elaborated on the various development projects initiated by the Centre in A.P. He expressed the view that the Centre and the State government should work together to take A.P. to greater heights.
Union Minister for Culture, Tourism and Development of North East G. Kishan Reddy said that the IMF had projected a 15% growth rate for India. He attributed it to the investor-friendly policies of Prime Minister Narendra Modi. He said that the State government was also making efforts to attract investments, and added that there were ample opportunities for growth in A.P. in view of the availability of resources, risk-taking entrepreneurs, and talented youth.
Earlier, Minister for Industries and IT Gudivada Amarnath attributed the overwhelming support of business leaders to the investor-friendly initiatives of the Chief Minister. He said that special focus was laid on the MSME sector.
Chief Secretary K.S. Jawahar Reddy, CEO and MD of Nova Air Gajanan Nabar, Avaada Group Chairman Vineet Mittal, Founder and CEO of Laurus Labs Satyanarayana Chava, MD of Hetero Group Vamsi Krishna Bandi, Chief Executive and MD of Greenko Anil Kumar Chalamalasetty, CEO of Saint Gobain Asia-Pacific and India Santhanam B., Director and Group Head, India Operations, Apache and Hilltop Group Sergio Lee and Satish Reddy, Chairman of Dr. Reddy’s Laboratories spoke.
