Andhra Pradesh

Investors exude confidence in pro-industry approach

A section of the delegates attending at the inaugural of the CII Partnership Summit in Visakhapatnam on February 24, 2018.

A section of the delegates attending at the inaugural of the CII Partnership Summit in Visakhapatnam on February 24, 2018.   | Photo Credit: K_R_DEEPAK

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Alignment in expectations of government, investors

Investors, by and large, feel that Sunrise Andhra Pradesh has taken the right initiatives at the right time to create conducive climate for taking up various big ticket projects.

Though Visakhapatnam and Amaravati, the new capital under construction near Vijayawada, remained the main talking point at all the three editions of the CII Partnership Summit and the Sunrise A.P. Investment Meet, this time investments are received for all the 13 districts to ensure balanced development.

In fact, several rounds of roadshows both in the metro cities in the country and in Dubai, Singapore, New York, Silicon Valley, Abu Dhabi, Seoul, Moscow and Tokyo were conducted to showcase the immense potential for investment in the automobile, food, agriculture, defence and aerospace, pharmaceutical, port-led development, renewable energy, tourism, infrastructure and the IT and electronics sectors.

By conducting the CII Partnership Summit for years consecutively, the government had sent a clear signal to the investors’ community that they are industry-friendly, said CII-AP vice-chairman R.V.S. Rudraraju.

When The Hindu sought views from some of the prominent persons, he said over the past three years the summit had matured to level where the expectations of the government and investors were aligned better. “This will result in better conversion rate than previous years,” he said.

With such investments coming in manufacturing, the MSME sector would have a lot of scope for job creation. “I am sure more number of food parks and IT parks with plug and play facilities will come in coming days,” he said.

According to A.P. Chambers of Commerce and Industry Federation president G. Sambasiva Rao, the summit held in association with the Department of Industrial Policy and Promotion, the Centre and the A.P. government was a good opportunity for investors.

“After bifurcation, we feel the government gave a good platform to showcase the investment opportunities especially in logistics, tourism, IT, food processing, textiles, automobiles, manufacturing and infrastructure for the last three year consequently. By this, the State government has achieved its vision by showcasing the opportunities sector-wise under the leadership of Chief Minister N. Chandrababu Naidu.”

Mr. Rao said many investors from abroad, other States and local entrepreneurs got to know the opportunities in all the districts.

He requested the government to review department-wise progress of the MoUs in each district, develop land banks with proper 24/7 road, power and water connectivity and all master plan roads on priority basis for the industrial and residential areas.

Hindustan Zinc Limited CEO Sunil Duggal, who exchanged MoUs with Chief Minister N. Chandrababu Naidu for the Vedanta Group’s commencement of three projects by the HZL, the Sterlite Power and the Sterlite Tech with ₹21,500 crore, said A.P. had become an ideal destination for investors due to pro-active policies.

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Printable version | Jan 27, 2020 8:23:15 PM | https://www.thehindu.com/news/national/andhra-pradesh/investors-exude-confidence-in-pro-industry-approach/article22921037.ece

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