The two-day Global Investors Summit which started on Friday in Andhra Pradesh’s Visakhapatnam received at least 340 investment proposals worth ₹13 lakh crore with a potential of creating 600 thousand jobs, chief minister YS Jagan Mohan Reddy said .
On the first day of the summit, the state government signed as many as 92 memoranda of understanding (MoUs) worth ₹11.87 lakh crore with scope for 3.92 lakh jobs. The MoUs on the remaining proposals would be signed on Saturday, the concluding day of the summit.
Majority of the investments announced were in steel, energy, cement, airport, healthcare and manufacturing sectors.
“These investments would enable Andhra Pradesh to contribute to India’s growth as one of the fastest-growing states,” Jagan said.
The energy department attracted 35 proposals worth ₹8.25 lakh crore investment generating employment for 1.33 lakh people, followed by industries and commerce that attracted around 41 proposals with an investment of ₹3.20 lakh crore, generating 1.79 lakh jobs. The information technology and IT-enabled services sector received six proposals with investment of ₹32,944 crore which will generate employment for 64,815 people, according to the state government. The tourism department got 10 proposals with investment of ₹8,718 crore which will generate employment for 13,400 people of the state.
The National Thermal Power Corporation (NTPC) signed three MoUs for an investment of ₹2,35,000 crore with an employment potential of 77,000. The JSW Group signed six MoUs, the largest among the lot, with an investment of ₹50,632 crore which will generate employment for 9,500 people.
Among others who signed the MoUs on the first day were: ABC Ltd, Aurobindo group, Adani Green Energy, Aditya Birla group and Jindal Steel.
The sports grounds of Andhra University, where the GIS was hosted, had about 200 stalls, including over 30 showcasing the advantages of investing in Andhra Pradesh in 13 crucial sectors identified by the government.
The venue consists of five halls and each hall will host different government-to-business (G2B) meetings, seminars, and meetings. Over 8,000 dignitaries and investors from across India and 40 other countries, including China and USA are attending the event.
