AP GIS 2023: Manufacturing, Food Processing, IT & Electronics In Focus At B’luru Roadshow
A high-profile Andhra Pradesh Government delegation on Tuesday began its Bengaluru leg of the roadshow for state’s Global Investors Summit (GIS) to be held on March 3-4 in Visakhapatnam.
The focus for this leg of AP government’s roadshow were key industries of manufacturing, food processing, ports, IT and Electronics, handloom and textile.
Speaking at a press conference, Andhra Pradesh’s Minister for Industries, Infrastructure, Investment & Commerce, IT, Handlooms & Textiles Gudivada Amarnath said that his state was India’s gateway to the southeast with its 974 km long coastline (second longest in the country), six existing ports and four upcoming ports.
He told the reporters present that the AP GIS 2023 is focused on 13 sectors, including aerospace & defense, food processing, automobile and electric vehicle, electronics & IT, healthcare & medical equipment, infrastructure, MSMEs & startups, petroleum & petrochemicals, pharmaceuticals & life sciences, renewable energy, skill development & education, textiles and tourism.
The Minister said that the state’s GIS is looking to attract investments amounting to Rs 1.87 lakh crore. “We are targeting Rs 1.87 lakh crore, but sky’s the limit,” he said.
Amarnath also invited businesses and investors based out of Karnataka with Andhra Pradesh roots to come and invest into the state.
The delegation said that the investments through GIS will create employment for around 90,000 people in the state.
Andhra Pradesh is offering 48,352 acres of land bank for industrial development for investors, as well as ready-built infrastructure to shorten the time required to set up new facilities.
When asked for details regarding interest received from Karantaka-based investors for the AP GIS, the delegation did not reveal any information.
"In total, we are working on about 150 MoUs," said a delegate from AP GIS 2023.
Addressing the investors Buggana Rajendranath, Andhra Pradesh Minister for Finance, Planning, Commercial Taxes, Skill Development, Training & Legislative Affairs assured the investors of the fast-paced implementation of projects in the state.
“We strongly believe reducing the time to start a business will have a significant impact on the manufacturer’s profitability. The state is building numerous plug-and-play facilities which will have ready-built factory sheds with quality power and water supply and help speed up setting up of manufacturing units,” said Rajendranath.
AP GIS’ Bengaluru leg of roadshow delegation included Dr. Srijana Gummalla, IAS, Director of Industries, Commerce & Export Promotion Vice Chairperson & Managing Director AP Industrial Infrastructure Corporation CEO, AP Economic Development Board; L Sridhar Reddy, CEO, AP Food Processing Society; Ravindranath Reddy, Deputy CEO, AP Maritime Board; K. Sunitha, IAS, Principal Secretary, Handlooms & Textiles Government of Andhra Pradesh.
Meanwhile, Uttar Pradesh GIS concluded on Sunday where the state received investor pledges amounting to Rs 33.5 lakh crore. The state had initially planned to attract investments up to Rs 17 lakh crore. The investment is expected to bring on employment opportunities for 93 lakh people in the state.
