GIS will open doors for Industries to invest in AP
Visakhapatnam, 24TH February 2023: The Global Investment Summit (GIS) will be held in Andhra Pradesh on March 3 and 4, 2023. During this summit, prominent industrialists from India and around the world are set to announce their investment plans in the state. Under the energetic leadership of Honorable Chief Minister Shri YS Jagan Mohan Reddy, the resource-rich state of Andhra Pradesh has already emerged as the fastest-growing state in India.
The national and international industry leaders and delegates participating in the event are likely to announce investments worth trillion of rupees. Before the summit, the Honorable Chief Minister Shri YS Jagan Mohan Reddy expressed his contentment with the state’s tireless efforts to ensure that the summit is a remarkable achievement and attracts global industry leaders. “It is a significant accomplishment that investors of the calibre of Birlas, Bangars, Adanis, and Bhajankas are now planning to invest in Andhra Pradesh, as their inauguration of plants in the state is a testament to the fact that AP has earned their trust,” he said.
The Chief Minister also stated that the state offers strong governance, besides political stability to the investors, “Here I am to invite you to Visakhapatnam which will be our capital in the days to come,” he added.
The state government has identified 13 focus sectors that offer unparalleled opportunities in Andhra Pradesh. The summit is projecting Andhra Pradesh as India’s gateway to the southeast with its 974 km long coastline, the second longest in the country with 6 existing ports, and 4 upcoming ports. Out of the eleven industrial corridors being developed by the Centre across the country, AP shares space for three of them – Hyderabad to Bangalore, Visakhapatnam to Chennai, and Chennai to Bangalore.
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 Sri Y.S. Jagan Mohan Reddy, Honourable 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 (EoDB) for three consecutive years.
At Visakhapatnam, the senior union ministers will be addressing the summit on day one led by Shri Nitin Gadkari, Hon’ble Union Minister of Road, Transport & Highways, Govt. of India and Shri Piyush Goyal, Hon’ble Union Minister of Commerce & Industry; Consumer Affairs, Food & Public Distribution and Textiles, Govt. of India; Shri R.K. Singh, Hon’ble Union Minister of Power and New & Renewable Energy, Govt. of India, and Shri G. Kishan Reddy, Hon’ble Union Minister of Culture; Tourism and Development of North Eastern Region, Govt. of India will also highlight the progress made and investment opportunities present in different sectors.
In order to ensure the presence of industry leaders from across the globe in the GIS, the Chief Minister of Andhra Pradesh, Shri YS Jagan Mohan Reddy, and the senior ministers have attended a number of investors meets over the last few weeks. In Mumbai, senior state ministers interacted with over 200 top-notch industrialists earlier this week. Similar gatherings were held in Delhi, Bengaluru, Chennai, and Hyderabad as well.
On the invitation of the honourable CM, leading industrialists are coming to Visakhapatnam to participate in the Global Investment Summit. Shri Mukesh Ambani, Chairman & Managing Director, Reliance Industries Ltd; Shri Gautam Adani, Chairman, Adani Group; Shri K.M. Birla, Chairman, Aditya Birla Group; Shri Hari Mohan Bangur, Chairman, Shree Cement Ltd; Shri Sajjan Jindal, Chairman, JSW Group; Shri Sanjiv Bajaj, Managing Director & CEO, Bajaj Finserv; and Shri Naveen Jindal, Chairman, Jindal Steel & Power Ltd will be addressing the inaugural session of the summit.
Shri G.M. Rao, Chairman, GMR Group; Shri Sajjan Bhajanka, Chairman, Century Plyboards; Shri Sumant Sinha, Chairman & Managing Director, Renew Power; Shri Puneet Dalmia, Managing Director, Dalmia Bharat Group; Mr. Cyrill Gutsch, Founder & CEO, Parley for the Advisors Oceans; Mr. Craig Cogut, Founder & CEO, Pegasus Capital; Mr. Martin Eberhard, Co-Founder & Former CEO, Tesla Inc; Shri Satya Tripathi, Secretary General, Global Alliance for a Sustainable Planet; and Shri Arjun Oberoi, Executive Chairman of Oberoi Group will also discuss the opportunities offered by Andhra Pradesh.
Delegates from over 40 countries are expected to attend the main summit, making it a truly global platform for businesses to explore investment opportunities in Andhra Pradesh. On the first day, ministers and business leaders will discuss the “Andhra Advantage” and its impact on India’s modern economy. The summit will also include sessions on sustainable development, India’s tech and EV revolution, and India’s gateway to Southeast Asia, among other topics. Andhra has been leading the ease of doing business tally with the implementation of a fast-track mechanism. In addition, the single window system brings together 96 services of 24 government departments in one place, along with handholding the corporate sector through its investment journey.
On day two of the summit, there will be several industry focussed sessions such as a discussion on Andhra’s role in India’s tech & data edge led by Shri Rajeev Chandrasekhar, MOS – Electronics & IT, India; a conversation on how Andhra can power India’s sea trade by Shri Sarbanand Sonowal, Minister of Ports, Shipping & Waterways. Shri Gudivada Amarnath, Industries Minister, Andhra Pradesh; and Shri R Karikal Valaven, Special Chief Secretary to Govt. AP will be leading the valedictory session on behalf of the state government.
Pharma and healthcare sector will be in focus and Andhra has already attracted many leading players. This will include a presentation on leading the pharma R&D revolution by Dr. Satish Reddy, Chairman of Dr. Reddy’s Laboratories; and a discussion on protecting the world against diseases led by Dr. Suchitra Ella, Founder & Chairman of Bharat Biotech.
Other notable speakers in the session will be Shri Rajesh Mandawewala, MD, Welspun Group followed by an inspirational speech of World Badminton Champion Smt P V Sindhu. Shri Y S Jagan Mohan Reddy, Hon’ble Chief Minister, Andhra Pradesh will deliver the concluding address of GIS 2023.
Consistent improvement in the governance framework to create hassle-free investing is augmented by hard infrastructure. The improvements have been duly recognised and the state has received various awards over the last year alone. To name a few the LEADS award for logistics 2022, the Inertia Award for Energy 2022, and the ET award for port-led infrastructure projects 2022.