AP gets Rs. 13-trn investments at GIS
State govt inks 92 MoUs worth Rs 11.85 lakh on inaugural day of Global Investors Summit-2023 on Friday; Remaining MoUs on 2nd day today
image for illustrative purpose
Visakhapatnam: After launching the two-day Global Investors' Summit (GIS) here on Friday after a two-month long ‘Advantage Andhra Pradesh, where abundance meets prosperity'’ campaign, Andhra Pradesh Government signed 92 MoUs envisaging an investment of Rs11.85 lakh crore.
Inaugurating the summit on the sprawling Andhra University Engineering College Grounds here, Chief Minister YS Jagan Mohan Reddy said during the two days, they will be signing 340 MoUs, most of which are in the renewable energy sector with a total investment of Rs13 lakh crore. The MoUs once fully taken off will provide jobs to six lakh people. The investments are spread across 20 sectors.
Over 15,000 delegates with foreign dignitaries from 20 countries attended. Union Minister for Road Transport and Highways Nitish Gadkari addressed a session on logistics and infrastructure. Among doyens of Indian industries, who participated on day one included Reliance Industries Ltd CMD Mukesh Ambani, Jindal Steel and Power Ltd Chairman Naveen Jindal, Tesla co-founder Martin Eberhard, Adani Ports & SEZ (APSEZ) CEO Karan Adani, CMD of ReNew Power Sumant Sinha, GMR Group founder GM Rao, Cyient founder BVR Mohan Reddy and Kia Motors India Chief Administrative Officer Kab Dong Lee.
| Company | MoUs | Investment (Rs/Cr) | Jobs |
| NTPC | 3 | 2.35 | 77,000 |
| JSW Group | 6 | 50,632 | 9,500 |
| ABC Ltd | 1 | 1,20,000 | 7,000 |
| Aurobindo | 5 | 10,365 | 5,250 |
| Adani Green | 2 | 21,820 | 14,000 |
| Aditya Birla | 2 | 9,300 | 2,850 |
| Jindal Steel | 1 | 7,500 | 2,500 |
| Department-wise Proposals | |||
| Department | MoUs | Investment (Rs/Cr) | Jobs |
| Energy | 35 | 8,25,000 | 1,33,000 |
| Industry | 41 | 3,20,000 | 1.79 lakh jobs |
| IT/ ITeS | 6 | 32,944 | 64,815 |
| Tourism | 10 | 8,718 | 13,400 |
In the inaugural address, Jagan Mohan Reddy said double digit growth, availability of natural resources and a stable and transparent governance, a large talent pool, India's highest growth rate of 11.43 per cent among all the States and hassle-free clearance to projects are able to bring overwhelming response from the best companies based in India and abroad to invest in his vision of New Andhra Pradesh. Officials said among the MoUs, the Energy Department attracted 35 proposals with Rs8.25 lakh crore investment generating 1.33 lakh employment. This is followed by Industries & Commerce that attracted around 41 proposals with an investment of Rs3.20 lakh crore with a promise to generate 1.79 lakh jobs.
The IT and ITeS Department got six proposals with investment of Rs32,944 crore with job potential for 64,815 people. The Tourism Department received 10 proposals with investment of Rs8,718 crore with job opportunities for 13,400 people.
Amongst the major investors are, NTPC signing three MoUs with an investment of Rs2.35 lakh crore with potential to generate 77,000 jobs. JSW Group signed six MoUs, the largest amongst the lot with an investment of Rs50,632 crore, which will generate employment for 9,500 people. ABC Ltd inked an agreement for an investment of Rs1.20 lakh crore generating employment for 7,000.
Aurobindo Group signed five MoUs with an investment of Rs10,365 crore, It will offer employment to 5,250 people. Adani Green Energy signed two MoUs with an investment of Rs21,820 crore with jobs for 14,000 people. Aditya Birla Group inked two agreements with an investment of Rs9,300 crore and promise of generating 2,850 jobs.
Jindal Steel signed an MoU envisaging an investment of Rs7,500 crore with jobs for 2,500 people. The first day witnessed, a total of 64 companies signing MoUs with the State Government describing it exceeded their expectation.
“Our brand is our visionary Chief Minister Jagan Mohan Reddy who is able to win the confidence of the investors,” Industries Minister Gudivada Amarnath told Bizz Buzz, when his comments were sought in response to the investment drive, which can be called as a mega success of this investment drive by the Chief Minister YS Jagan Mohan Reddy. The investment drives which were started from Delhi, followed by Bangalore, Chennai, Mumbai, Hyderabad culminated into a grand success at Visakhapatnam summit. There are many more proposals to be signed on the second day of the summit.
Business climate most conducive for investors. In 2 days, the State govt will be signing 340 MoUs, most of which are in the renewable energy sector with a total investment of Rs13 lakh crore spread across 20 sectors. The MoUs once fully taken off will provide jobs to 6 lakh people
-- YS Jagan Mohan Reddy
Our brand is our visionary Chief Minister Jagan Mohan Reddy, who is able to win the confidence of the investors
- Industries Minister Gudivada Amarnath tells Bizz Buzz
