Today's Paper

Singapore NRIs have big plans for State

: The trade and investment scenario is all set to take a major leap as the Telugu NRIs based out of Singapore, US and other countries across the world are chalking out plans to tap investment opportunities in Sunrise Andhra Pradesh.

The State government, on its part, has lined up its follow-up tour to these countries with Indian Diaspora. Chief Minister N. Chandrababu Naidu had earlier toured these countries to attract investments in the proposed State capital Amaravati, and 13 districts of the State.

In what can be stated as a first of its kind move, a Singapore firm —SINDIA — is planning to set up its Indian corporate offices in Vijayawada and Visakhapatnam in the third week of April.

The idea is to facilitate investments, trade and commerce between the businessmen of India and Singapore, according to Venu Velpuri, partner of SINDIA.

“Many Telugu NRIs in Singapore are interested in investment in Sunrise AP. Similarly, several business houses look at export opportunities in Singapore. We want to bridge this gap through SINDIA. We see a lot of potential owing to brisk activity in Amaravati and other districts of AP,” Mr. Venu, a Telugu NRI based in Singapore, told The Hindu over phone.

Concrete developments such as building of the State’s interim Secretariat in Velagapudi in Amaravati region and proposed shift of government employees in June have created enough buzz among potential investors in Singapore, according to him.