Global Investors Summit 2023: Andhra Pradesh attracts Rs 13 lakh cr investments

VISAKHAPATNAM: Andhra Pradesh Chief Minister YS Jaganmohan Reddy announced on Friday that the state received 340 proposals worth Rs 13 lakh crore in investment, with 6 lakh jobs in 20 sectors, during the Global Investors Summit 2023.

While speaking at the Global Investors Summit 2023 on Friday in Visakhapatnam Chief Minister YS Jaganmohan Reddy said, “It is a proud moment to announce that we have received 340 proposals with the investment of Rs 13 lakh crore with employment to 6 lakh people in 20 sectors".

In his address to the industry leaders Chief Minister also said, “Through this summit, we would like to communicate to the domestic and international community that you are important to us. We are sharing the opportunities that the state has to offer the emphasis is on healthy competition and exploring long-term Partnerships.”

He said, "We will execute 92 MoUs worth 11 lakh crore today, and the remainder will be executed tomorrow. In this summit, we want to express to the domestic and foreign communities that you are important to us. Opportunities the state has to offer and its emphasis on healthy competition and long term partnerships has to be explored".

The Chief Minister also emphasised that the APGIS is taking place in 2023 that is an important year for India. ''Our country is playing a key role as the leader of G-20. This throws up great opportunities for India in terms of attracting global investment and technology. He assured the delegates, and the state of Andhra Pradesh is prepared to be at the forefront of emerging growth opportunities.”

YS Jaganmohan Reddy said, "The year 2023 is an important year for India as we are hosting the G20. India’s G20 leadership under the leadership of Prime Minister Narendra will be a defining moment for us. India is one of the fastest-growing states in the world, and for foreign direct investment as well. Andhra Pradesh state is a leading state and blessed with an abundance of natural resources and a long coastline. "Robust infrastructure with ports, six airports, three industrial corridors developed in Andhra Pradesh, strategic location, skilled youth, and proactive government with a policy framework are helping the state."

"Andhra Pradesh state has achieved year-on-year highest gsdp growth with more than 11 percent. Exports have increased; Niti Aayog ranks third in India for SDG goals, the Chief Minister said.

He said, "Andhra Pradesh has the potential to be one of the leading states in India." It is only a state with three industrial corridors. one-stop digital platform for one-stop domestic and international approvals. 21 days of approvals will be spent on entrepreneurship."

Chief Minister YS Jagan said, "With repealed absolute laws, the state government has 26 skill colleges with international standards and industry involvement. I want to congratulate and reiterate the need to ensure sustainable development in the state. We urge all business leaders to participate, engage, and explore the potential of various sectors in the AP. We have to assure you all that we are one phone call away, and that is our assurance."

Andhra Pradesh is India’s gateway to the southeast with its 974 km long coastline, the second longest in the country, 6 existing ports, and 4 upcoming ports. Coincidently, it has also emerged as the fastest-growing state in India, as per the number released so far, with double-digit growth of 11.43% in 2021-22. The state has embarked on a rapid growth path under the able leadership of Y.S. Jagan Mohan Reddy, Chief Minister. Thanks to the governance reforms and formulation of investor-friendly policies by the government, the state has emerged on top in terms of ease of doing business (EoD) for three consecutive years.