Big bang start to GIS

Visakhapatnam: Advantage Andhra Pradesh, the first Global Investment Summit which was inaugurated here on Friday saw Mukesh Ambani from Reliance, Adani Group, Aditya Birla group and ReNew power, NTPC as well as Aurobindo Group showing keen interest in investing in the state.

In fact, Mukesh Ambani was not only all in praise for the Government of Andhra Pradesh but also was the connoisseur of all eyes at the summit as he and Chief Minister YS Jagan Mohan Reddy were seen exchanging views for most part of the time when they were on the dais. Speaking at the inaugural session of the GIS, the Chief Minister said MoUs worth Rs 11.85 lakh crore would be signed on the first day and the rest would be formalised on Saturday.

He said it was a proud moment to announce that the state has received 340 investment proposals with an investment of about Rs 13 lakh crore providing employment to almost six lakh people across 20 sectors. He further said 2023 is an important year for India as the country is hosting the G20 Summit under the leadership of Prime Minister Narendra Modi. He said AP is a leading state and is blessed with abundant natural resources with a long coastline and robust infrastructure with ports, six airports and three industrial corridors passing through it.

The Energy Department attracted 35 investment proposals worth Rs 8.25 lakh crore generating 1.33 lakh jobs followed by the Industries & Commerce department that attracted around 41 proposals with an investment of Rs 3.20 lakh crore with job potential to 1.79 lakh people, it said. The IT and ITES Department got six proposals with investment of Rs 32,944 crore which will generate employment for 64,815 people. The Tourism Department got 10 proposals with investment of Rs 8,718 crore which will generate employment for 13,400 people of the state.

Among the major investors, NTPC signed three MoUs with an investment of Rs 2.35 lakh crore which will generate employment for 77,000 people. JSW Group signed six MoUs, involving an investment of Rs 50,632 crore which will generate employment for 9,500 people. Aurobindo Group signed five MoUs with an investment of Rs 10,365 crore which will generate employment for 5,250 people. Adani Green Energy has signed two pacts and an investment proposal of Rs 21,820 crore potential to generate 14,000 jobs.

About 200 stalls were set up at the sprawling sports grounds of Andhra University, where the Summit is on to showcase Advantage AP. Over 8,000 dignitaries and investors from across India and 40 other countries, including China and USA, are attending the event.