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Andhra Pradesh anticipates drawing investments worth roughly Rs 11 lakh crore and generating approximately 2.5 lakh jobs during the upcoming 31st Confederation of Indian Industry (CII) Industrial Summit in Visakhapatnam, according to state Telugu Desam Party (TDP) President Palla Srinivasa Rao.
Speaking to ANI ahead of the summit, Rao outlined the scale of the gathering, indicating that the state administration projects extensive participation across sectors alongside a substantial number of formal agreements. The entire Visakhapatnam city got geared up for the 31st CII industrial summit and we are expecting around Rs 11 lakh crore investment and employment of around 2.5 lakh, Rao said. He added, We are also expecting MoUs to be signed around 3800 and around 58 countries are also participating in this. The two-day global economic forum is jointly organised by the Ministry of Commerce and Industry, Government of India, the Government of Andhra Pradesh, and the Confederation of Indian Industry (CII). Centred on the theme Navigating Change: Technology, Trust and Trade Leading the Way in a New World Order, the summit features Union Minister for Home Affairs and Cooperation Amit Shah addressing the inaugural session on November 12, while Union Minister for Commerce and Industry Piyush Goyal chairs the summit deliberations. Addressing the broader policy environment, Rao noted that state-level policy incentives and administrative direction under Chief Minister Nara Chandrababu Naidu serve as key drivers for incoming industrial commitments. And this is going to become one of the best industrial summits. And with the investments that's coming up and with the incentives that the government is offering, now Andhra Pradesh has become a destination for investment. It not only benefits Andhra Pradesh, it also benefits the entire country, Rao stated. He further said, And this is all possible just because of our leadership. Sri Nara Chandrababu Naidu Garu, we are going, we are with his leadership. Under his leadership, we are offering many incentives, tailor-made incentives, and many other bigger incentives. Rao also pointed to political stability, citing recent local body election outcomes in favour of the ruling administration as a positive signal for investor confidence. In addition, he highlighted the growing presence of major technology infrastructure in Visakhapatnam, referencing substantial capital commitments in digital infrastructure. Google data center, many other data centers are coming up to Visakhapatnam. This acts as an ecosystem. It builds an ecosystem, he noted, pointing out that Google represents one of the largest investors in Andhra Pradesh and the country, investing around USD 15 billion. Addressing environmental scrutiny surrounding data centres, Rao stated that the facilities focus on sustainable operations with reduced power and water footprints. So, though there are critics on that, we are going for green data centers where the power will be used less and the water will also be minimised; we will be using minimum water, Rao said. With the incentive that we are offering and the speed of doing business. These are all the things that are attracting the investment. And we are very hopeful that Andhra Pradesh is going to become the investor's destination, he stated. (ANI)
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