Global Investment Summit to revolutionise industries, investments in Andhra Pradesh

VISAKHAPATNAM: The state of Andhra Pradesh will be highlighted as a powerful industrial base, high concentration of MSMEs and startups and a welcoming environment for investors by a special State pavilion at the Global Investors Summit being held in the State on March 3 and March 4.

The two-day conference gives domestic and foreign investors, policymakers, ambassadors from other nations, corporate delegations, influencers, industry associations and trade organisations a platform to explore prospects and establish alliances. As chances for successful engagement, the State has scheduled Business-to-Business (B2B) and Government-to-Business (G2B) meetings, keynote addresses, sector-specific plenary sessions, and exhibitions. The state has also organised events for foreign partners to enjoy local cuisine, art, and culture, providing everyone a comprehensive understanding of the State.

There would be four major areas of focus in the Summit - Renewable energy, tourism and hospitality, petroleum and chemicals and IT and electronics.

Renewable Energy:

The Summit aims at increasing the nine GW installed renewable energy capacity to 82 GW installed capacity with investments from the meetings.

Tourism and Hospitality:

Andhra Pradesh witnesses over 13.8 percent total tourism of India. With over 93 million domestic tourists in 2021, the State has a huge potential of growing their tourism department. The TTD also sees a huge number of visitors coming in every single day.

The Summit would be a window of opportunity to show that Andhra Pradesh provides multiple opportunities for developing tourism projects and related services to cater to the vast potential and avenues that the state provides.

Petroleum and Chemicals:

With its top-notch infrastructure and numerous ports, Andhra Pradesh is well-positioned to develop into a hub for the production of petrochemical products, driving economies of scale for downstream chemical industries and becoming a preferred investment location for Petroleum, Chemical, and Petrochemical companies.

IT and Electronics:

The Summit also aims at showing that Andhra Pradesh is an excellent choice for international conglomerates to invest in the electronics sector and meet the constantly rising global demand due to its excellent connectivity to numerous seaports and airports, proximity to large urban centres, robust industrial infrastructure, skilled workforce, low cost of doing business, etc.

The Global Investors Summit would also have many domestic and international speakers. Union Ministers, CEOs of huge MNCs, Industrialists, and other dignitaries would be joining the summit.

Union Minister for Road Transport and Highways Nitin Gadkari, Union Minister for Commerce and Industries and Consumer Affairs Piyush Goyal, Union Minister for Ports and Shipping Sarbananda Sonowal would be a few prominent leaders at the summit.

Major Industrialists like Mukesh Ambani, KM Birla, Gautam Adani, Tesla’s co-founder Martin Eberhard, Naveen Jindal, Sanjiv Bajaj and many other prominent personalities would be speaking at the event.

Andhra Pradesh would showcase few of its key factors to attract investments. The six existing airports, 974-km-long coastline which is second largest in India, total 10 seaports being developed, USD 90.3 Billion GSDP and double digit growth rate are few of the major highlights.

Key areas where the State pavilion would try to raise investments for would be Aerospace and Defence, Agri and Food Processing, Automobile and Electric Vehicles, Electronics & IT, Healthcare and Medical Equipment, Industrial and Logistics, Infrastructure, MSMEs, Startups and Innovation, Petroleum and Petrochemicals, Pharmaceuticals and Life Sciences, Renewable Energy, Skill Development and Education, Textiles and Apparel and Tourism and Hospitality.

To back the investments, the state pavilion would also be showcasing few policies introduced and implemented during Chief Minister YS Jaganmohan Reddy’s reign. Few of the notable policies are AP Industrial Development Policy 2020-2023, Renewable Energy Export Policy 2020-2025, AP Food Processing Policy 2020-2025, Export Promotion Policy 2022-2027, Tourism Policy 2020-2025, AP Electric Mobility Policy 2018-2023 among others.