Industry captains see Vizag as emerging business hub

Visakhapatnam: Amid tremendous enthusiasm among delegates who assembled to deliberate and know about investment opportunities of Andhra Pradesh, the first edition of Bizz Buzz Business Conclave (BBBC) was inaugurated at a glittering function at a five star beachfront hotel in the City of Destiny on Friday.

The two-day conclave is being organised by Bizz Buzz, India's business e-daily and daily newspaper The Hans India brought out by the The Hans Group of Publications. Hyderabad Media House Limited (HMHL), a part of diversified Kapil Group, which carved a niche for itself in the media space is the publication of Bizz Buzz and The Hans India.

The conclave, the first in the series of many planned across the State, is showcasing the opportunities in achieving a $5 trillion economy for India. The Government of Andhra Pradesh is the participating State in the event. The conclave has sessions on IT sector, startups, electronics, pharmaceutical, petrochemical, agriculture, food processing, shipping and logistics.

The panel discussions started in a business-like environment after city's Mayor Golagani Hari Venkata Kumari declared the two-day high-profile event, dubbed as the biggest conference post-pandemic phase, open. In her brief address, the Mayor elaborated how Chief Minister YS Jagan Mohan Reddy was committed to develop Andhra Pradesh in various spheres, while implementing Navaratnalu to ameliorate suffering among the poorer sections.

She said Visakhapatnam, the largest cosmopolitan city with a robust industrial ecosystem, was all set to become a world-class city due to schemes being implemented by the government to make it a prominent tourism, film shooting and industrial hub.

"The development in the city will get a shot in the arm with the proposal to make the Executive Capital," she said.

Earlier, the World Trade Centers' Association in a video presentation explained about its activities on facilitating global businesses across the world by stimulating trade and investment opportunities.

Speaking at the inaugural ceremony, A Vara Prasad Reddy, Chairman, AP Tourism Development Corporation (APTDC), termed Jagan Mohan Reddy as a 'visionary CM' and described how he has unveiled a unique Tourism Policy for 2020-25 and achieved success in sustaining the growth momentum while fulfilling people-centric welfare measures promised during the electioneering.

He said the government has launched an exercise to develop Visakhapatnam as a prominent tourist hub by developing a London Eye-type giant wheel and a sky tower. He said the cruise terminal being developed in the city by Visakhapatnam Port Authority with support from Union Tourism Minister G Kishan Reddy would help bring a lot of foreign tourists to the coast.

With a 974-km long coastline and several famous temples, the government is keen to develop adventure sports, temple tourism and has already sought expression of interest for land allotment 980 acres earmarking 13 projects for adventure tourism. Temples like Simhachalam and Sri Kalahasti have been identified for promotion of religious tourism, he disclosed.

AP Electronics and IT Agency (APEITA) Group CEO M Nanda Kishore Reddy gave details AP's efforts to become India's premier electronic manufacturing destination. He said four Electronics Manufacturing Clusters (EMCs) are being implemented -- two at Tirupati and one each at Sri City and Kopparthy. He said the Kopparthy ENC located in a mega industrial hub is the first project in India sanctioned under EMC 2.0 Scheme. It is located in intersections of industrial corridors between Visakhapatnam and Chennai and Bangalore and Chennai.

AP, which contributes the largest workforce in IT and electronics, is also creating record of sorts due to revolutionary decision of the State Government to improve skilling in a big way to improve job quotient of students.

"The main purpose is to roll out job-ready graduates as required by various segments of industries," he remarked.

An expert on strategic vision, Narendra Mairpady, former CMD of IOB, in his address said India had show its resilience by ensuring good growth despite the challenges posed by the prolonged spell of the pandemic for over two years.

Presently, the Russia-Ukraine war has instigated inflationary trends in the United States and the Europe leading to high rise in the prices of oil, commodities and chemicals. He said India was being forced to pay huge amount towards import of crude, he said.