Several prominent Indian industrialists have been approached and invited to the Global Investors Summit, which will take place in Visakhapatnam on March 3 and 4. The delegation will be led by finance minister Buggana Rajendranath.
The team had meetings with prominent businessmen such Ashok P. Hinduja, chairman of the Hinduja Group, Nadir Godrej, managing director of Godrej Industries, and Ajay Piramal, chairman of the Piramal Group. They were personally invited to the big celebration by Rajendranath.
Together with a high-level team from Tata Sons, business and industrial tycoons Mukesh Ambani and Sajjan Jindal will attend the two-day event. Aside from MSMEs and start-ups, the summit’s main focus is on sectors relating to aerospace and defence. “ Tata Sons CEO Natarajan Chandrasekaran visited Y.S. Jagan Mohan Reddy in September of last year. Both parties talked about investing Andhra Pradesh in this respect,” according to sources.
As Anantapur is closer to Bengaluru, where the Indian Air Force Academy and technical college are located, aerospace industry will grow there. Kurnool might also see some units emerge.MSMEs and start-ups will continue to receive the Chief Minister’s primary attention because they generate more jobs with less investment than major and heavy industries do. High-end technology would be sourced from Germany to prevent pollution caused by MSMEs. Ports at Machilipatnam and Ramayapatnam.
According to sources, Andhra Pradesh would see all anticipated development spread out across the state to guarantee that the state develops consistently. They stated that the state is searching for investments with a minimum value of 1.87 lakh crore.
During his visits, Buggana Rajendranath has discussed with leading industrialists the prospective commercial opportunities in AP that make it a prime location for investments. One of the three states that has obtained a bulk drug park is AP. According to him, a green-field project by the Piramal Group will work well in such an ecosystem. He congratulated Ajay Piramal for using his group’s CSR initiatives to educate over 10,000 women from tribal settlements in the Araku Valley about prenatal and postpartum care.
The minister emphasised AP’s advantages.
A tower with one lakh square feet of space is being built in Visakhapatnam city at the same time to house the operations of start-ups.In addition to emphasising port-led development, Srikakulam district IT and logistic parks would be built closer to Bhavanapadu Port. in the farming industry. For Nadir Godrej, he emphasised the existence of 10,641 Rythu Bandhu Kendras and farmer assurance centres, which support farmers in utilising technology and innovation to increase the output of their farms.
Rajendranath outlined to the businessmen why Andhra Pradesh has regularly scored first for business-friendliness. K. Sunita, the principal secretary for handloom and textiles, and Y.S.R. Rajeev Kumar, the chairman of the investment promotion board, were also part of the minister’s team. On February 24, the delegation led by Buggana Rajendranath will turn its attention to Hyderabad.
