Investors and developers from around the world are actively looking to invest in the emerging Indian data centre market, which is seeing new markets emerge and campuses rapidly expand in key cities like Mumbai and Chennai.
Data is expected to increase as a result of the surge in over-the-top (OTT) video streaming, online gaming, augmented reality, and digital commerce enabled by 5G.
In May 2019, the YSR Congress Party government took power in Andhra Pradesh. The world was hit by the COVID-19 pandemic before Chief Minister Y.S. Jagan Mohan Reddy and his team could settle down. This was not anticipated, and the state’s economy suffered as a result. The pandemic had affected every industry, and investment was scarce.
Things are improving as the pandemic subsides. Looking promising, the Chief Minister has decided to host the first Global Investors’ Summit (GIS) in Visakhapatnam on March 3rd and 4th
The initiative was launched by the Chief Minister with a roadshow in Delhi, and subsequent roadshows were held by Finance Minister Buggana Rajendranath Reddy and Industries Minister Gudivada Amarnath in cities such as Mumbai, Chennai, Bengaluru, and Hyderabad. A high-level team met with a number of industry titans, including Mukesh Ambani, Anand Mahindra, Kumar Mangalam Birla, and others, and many will attend the summit.
The government appears to have set a reasonable goal to achieve. The Chief Minister anticipates a 2 lakh crore investment, and if it is realised, He claims he will be a happy man if he receives around 3 lakh crore.
Investment by NTPC
The 2 lakh crore target is in addition to the NTPC’s 1 lakh crore investment in stages for the green hydrogen hub. “We already have the NTPC’s commitment, and the land has been allotted, but the investment will be phased, and it will be a hydrogen energy hub,” Mr. Amarnath explained.
Aside from the 14 focus areas such as aerospace and defence, pharmaceuticals, medical equipment and healthcare, education and skilling, automobile and electric vehicle, MSME, textile, tourism and hospitality, and so on, there is a special emphasis on green energy and port-led projects. The state intends to make good investments in green energy projects such as pump storage, wind, and solar. The Adani group has already committed to investing 60,000 crore over the next six years, and has already invested between 15,000 and 18,000 crore. In terms of port-led development, the state will try to entice investors in ports as well as projects and industries that rely on ports, such as steel plants and aqua exports.
“We have the second largest coastline of about 974-km, and it is entirely usable, unlike in Gujarat, and that is why we have planned six new ports, of which four will be government-run and two will be developed in the private sector. “The first berth at Ramayapatnam is already being developed, and the first vessel will berth at the port in December,” Mr. Amarnath said. Aside from that, the The state is also building nine fishing ports along the coast to increase aqua and shrimp exports.
Exports of seafood
Andhra Pradesh led the country in seafood exports, shipping 3.24 lakh tonnes of shrimp, fish, and other items during the fiscal year 2021-22. India’s total seafood exports were approximately 13,69,264 tonnes. Mr. Jagan Mohan Reddy, at a roadshow in Delhi, stated that Andhra Pradesh had topped the chart for Ease-of-doing-Business (EoDB) for the last three years, and that the state had taken up aquaculture in around 2.12 lakh hectares, with approximately 1.38 lakh farmers participating in the activity.
In the state, 111 cold storages hold 2.27 tonnes of aqua products. The government provides aqua with subsidised power. Farmers cultivating on less than 10 acres are eligible for aqua zones, and approximately 26,000 power connections are currently receiving the benefit.
The industry leaders in Visakhapatnam are overjoyed that the investors’ summit has returned after a five-year hiatus, claiming that the government is proactive and the environment is conducive to investment. P. Krishna Prasad, State President of the AP Chambers of Commerce and Industries Federation, told The Hindu, “The Chief Minister has already announced the single window clearance for EoDB, and now it has to be replicated in letter and spirit.”
“Because land is the most important component in the establishment of an industry, we will request that the Chief Minister provide assistance.” “Subsidize its prices,” he explained. “The State’s growth trajectory is good, and now is the time to invest if the State offers subsidised rates for land, water, and power,” he added. “How quickly clearances will be given and how quickly they can come to the commercial production stage from day one will be the luring point for industrialists who intend to set up shop in Andhra Pradesh,” said CII (AP) Chairman Neeraj Sarda.
He also stated that incentives would be important, and that for those who had already established or planned to establish industries in the state, de-bottlenecking, particularly on the infrastructure side, was required.