Andhra Pradesh receives Rs 13 lakh cr investment during the Global Investor Summit

  • Articles
  • Mar 20,23
Andhra Pradesh Global Investors Summit held in Visakhapatnam on March 3 and 4, is likely to create over 6 lakh jobs in Andhra Pradesh across 20 sectors with 340 investment proposals at the event. Investments announced covers in steel, energy, cement, airport, healthcare, and manufacturing sectors to enable AP to contribute to India’s growth as fastest-growing states.
Andhra Pradesh receives Rs 13 lakh cr investment during the Global Investor Summit

Andhra Pradesh hosted APGIS (Andhra Pradesh Global Investors Summit), 2023 on March 3 and 4 in Visakhapatnam with a high spirit. The event highlighted the state's advantages to global business leaders and attended by several dignitaries and industry leaders, who shared their insights on the state's potential for growth and development.

The state has received 340 investment proposals with investment of about Rs 13 lakh crore, providing employment to almost six lakh people across 20 sectors distributed all along the state. Y S Jagan Mohan Reddy, Chief Minister, Andhra Pradesh, said, “Through this summit, we would like to communicate to the domestic and international community that you are important to us. We are sharing the opportunities that the state has to offer the emphasis is on healthy competition and exploring long-term partnerships.”

Andhra Pradesh is India’s gateway to the southeast with its 974 km long coastline, the second longest in the country, six existing ports, and four upcoming ports. It has also emerged as the fastest-growing state in India, as per the number released so far, with double-digit growth of 11.43 per cent in 2021-22. APGIS is taking place in 2023 that is an important year for India mentioned Reddy in his speech. “Our country is playing a key role as the leader of G-20. This throws up great opportunities for India in terms of attracting global investment and technology,” he added assuring the delegates that the state is prepared to be at the forefront of emerging growth opportunities.

L to R: CM Y S Jagan Mohan Reddy with businessman Mukesh Ambani at APGIS

Andhra Pradesh is blessed with a large renewable energy potential of 82.5 GW. It is one of the very few states in India that has combined potential for solar, wind and pumped storage, he stated. “We have also identified and set aside dedicated land parcels for wind, solar and pumped storage projects.”

With governance reforms and formulation of investor-friendly policies by the government, the state has emerged on top in terms of ease of doing business for three consecutive years. Consistent improvement in the governance framework to create hassle-free investing is augmented by hard infrastructure. The improvements in the state have been duly recognised and the state has received various awards over the last year alone like, the LEADS award for logistics 2022, the Inertia Award for Energy 2022, the ET award for port-led, and the infrastructure project 2022.

The CM concluded his speech by telling the present dignitaries to enjoy the hospitalities and scenic beauty of the city. “I do hope that you have a wonderful time in our beautiful city of Visakhapatnam, which would be our executive capital as well in the days to come”, he said.

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