The State Government of Andhra Pradesh will be conducting a two-day Global Summit from March 3rd in Vishakapatnam. The textile minister The Minister alleged that although the TDP government claimed to have mobilised investments worth over 18 lakh crore, in fact only 1.87 lakh crore had been mobilised.
Because he wants to be practical, Chief Minister Y.S. Jagan Mohan Reddy set a minimum aim of $1.87 trillion. We’ll work to increase it to between 3 and 1 lakh crore, Mr. Amarnath stated. According to the Minister, the TDP administration has added HPCL’s investment of around 25,000 crore for the expansion of its Visakh Refinery to the total investments.
Similar to that, he added, “we have also included NTPC’s $1.10 lakh crore green hydrogen project, which will also produce employment for roughly 60,000 people, both direct and indirect.”The Chief Minister made it abundantly clear. that we must concentrate on port-led growth, which is our greatest asset. Whenever we have held roadshows, the sector leaders have discussed the possibilities for exports. We have the second-longest useable coastline in the nation.
With this in mind, he stated, “we are building six ports and nine fishing harbours for a total of roughly Rs. 15,000 crore.”
“Work has started on four of the six ports; three are being developed by the government and one by a private organisation. By December of this year, we want to have the first berth in Ramayapatnam ready. The first vessel is intended to berth in the same month as well, he added.
Exports
We had already been succeeding in goods, and as of October 2022, our total exports—excluding IT exports—were estimated to be around 98,000 crore.
Contrarily, Mr. Amarnath asserted, “Telangana’s exports, including those of IT, stood a 2,000 crore.” The IT and renewable energy sectors are also expected to see respectable investments from the state government.
know-it-all cities
We intend to develop an iconic tower in an area of approximately 3 lakh square feet that will also house the Industries Department in an area of around 40,000 square feet in order to support the IT sector. Aside from that, Visakhapatnam, Tirupati, and Anantapur are the sites of three planned knowledge cities. We have already located about 100 acres near the Bhogapuram airport in Visakhapatnam, the Minister added.
“The Chief Minister is eager to begin talking about Twenty thousand MSMEs for five lakh jobs, he remarked.
The picture
The Minister stated the following regarding Mr. Jagan Mohan Reddy’s vision: “The Chief Minister has urged the Ministries to ensure sufficient water, unclaimed land, continuous power, and good roads. Our land bank totals roughly 48,000 acres, which is dispersed among the three industrial corridors of Visakhapatnam-Chennai, Hyderabad-Bengaluru, and Chennai-Bengaluru. We also have no scarcity of water or power.
According to the Minister, we have been at the top in terms of the ease of doing business for the past three years, and our single window clearance delivers items in just 12 days by securing approvals from roughly 96 departments.
Summit specifics
The Minister stated that New Delhi, Mumbai, and Chennai had already hosted four roadshows. and Bengaluru. He stated that the Hyderabad one is still pending.
The two-day meeting is likely to draw numerous business leaders. The Minister stated that prominent figures including Mukesh Ambani, Kumar Mangalam Birla, and executives from Godrej, Tata, Raheja, and Mahindra have confirmed their presence. Piyush Goyal, Mansukh Mandaviya, Sarbananda Sonowal, and Nitin Gadkari, all Federal Ministers, are also anticipated to attend.On both days, the Chief Minister will be present. Following the opening, there will be discussions with professionals from the 14 main areas. Four sessions will be held concurrently in four enclosures that can hold 150 to 200 people each, according to Mr. Amarnath.
Our plan is to have at least one senior industry professional and one for a good exchange of previous and new ideas,” he noted, launching from the focal area. According to Mr. Amarnath, the Chief Minister is also preparing a “early bird offer,” under which industrialists who start their projects within six months of the MoU’s signature will receive exceptional incentives.
