Mukesh Ambani, Naveen Jindal, Among Industry Bigwigs Attend Global Investors Summit In Visakhapatnam

The two-day event is being held at Andhra University, where 200 booths have been put up, including more than 30 highlighting the different benefits of investment in Andhra Pradesh

Top honchos of India Inc. such as Mukesh Ambani of Reliance Group, Naveen Jindal of Jindal Steel and Power, GM Rao of GMR Group, and BV Mohan Reddy, founder-chairman of Cyient,  are among the corporate giants attended the Global Investors Summit 2023 'Advantage Andhra Pradesh', which began in Visakhapatnam on Friday.

Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy said that Andhra Pradesh has received 348 investment proposals with some of Rs 13 lakh crores creating employment for 6 lakh people. Jagan Mohan Reddy said, "Reliance , Adani, Zindal, NTPC, are expanding their business in AP."

The chief minister also said that Visakhapatnam would be the executive capital for the state. "I am moving over very soon," said Jagan Mohan Reddy.

Mukesh Ambani in his address said, "We will invest in 10 GW in renewable solar energy in the state of Andhra Pradesh."

Ambani congratulated the Andhra Pradesh government for building a dynamic state. "We are creating the largest and the best digital network footprint in the state by investing over Rs 40,000 crore. Our 4G network covers 98 per cent of the state," he said, while adding that the state will emerge as a leading destination in India's growth story.  Mukesh Ambani said, “Andhra Pradesh is a land of abundance with abundant talent, heritage, and resources."

Also present at the summit Karan Adani, CEO of Adani Ports and SEZ Ltd, said, "Adani Group has invested across sectors in the state of Andhra Pradesh creating numerous employment opportunities."

Karan Adani said that having already invested 20,000 crores and 18,000 direct and indirect employment. Our partnership with AP on ports. Our existing capacity of 100 Million Metric Tons through the existing 2 Ports in Andhra will be doubled in a few years. We are committed to developing 1,5000 MW of renewable energy in AP. Ambuja and Adani cement will set up two plants with 10 million tonnes.

The two-day event is being held on Andhra University campus, where 200 booths have been put up, including more than 30 highlighting the different benefits of investment in Andhra Pradesh in the 13 critical industries designated by the government, reported PTI. The venue has five massive halls; each one will hold different events, such as meetings, seminars, and government-to-business (G2B) gatherings. 

The event is expected to draw over 8,000 dignitaries and investors from India and 40 other nations, including China and the United States.

Speaking at the inaugural session, AP Finance Minister Buggana Rajendranath Reddy said the dream is not only to re-establish AP as the industrial hub of India but of the globe. "We have proximity to Chennai, Bangalore and Hyderabad. We are a very progressive state. Most of all we have a stable government and dynamic leadership of CM YS Jagan Mohan Reddy. We have a beautiful city like Vizag. AP has moved in EoDB with continuously topping thrice. The dream is not only to re-establish AP as the industrial hub of the India but as a globe," Reddy said.

IT and Industries Minister G Amarnath on Friday said the state is rapidly growing across all sectors under the leadership of Jagan Mohan Reddy's governance and an inclusive development model. He further said the AP government offers stability and confidence for business and presents business opportunities.