AP set to attract crores of investments from across world

Visakhapatnam: About 1 lakh crore investments are going to come to Andhra Pradesh through the Global Investors Summit, said Industries and IT Minister Gudivada Amarnath. Speaking at a press conference organised here on Saturday, the minister said 6,500 people have registered to participate in the global summit.

Indian top industrialists Mukesh Ambani, Gautam Adani, representatives from Tata and Birla groups are also expected to take part in the conference, mentioned IT Minister. The contribution of the industrialists gives a positive note, he added.

The minister said that Andhra Pradesh was number one in the ease of doing business and investors were ready to set up business units in the state.

Further, Amarnath informed that plans are on to make complete use of the sea coast in the state and building of three ports would be undertaken by the Maritime Board at a cost of Rs 15,000 crore. Visakhapatnam would also develop in the same manner as port cities have developed in the country, he said. The IT Minister said when TDP chief N Chandrababu Naidu was the Chief Minister, he did not pay the incentive dues of Rs 3,600 crore, but after YS Jagan Mohan Reddy came to power, he said that around Rs 3,000 crore of incentives were paid to MSMEs.

He said the restart package of Rs 900 crore was given to MSMEs who have withstood financial difficulties during Covid-19 pandemic.

The minister alleged that the state is developing and some people are not able to digest it. He stated that the representatives from around 50 countries are attending the global summit and people are talking about it across the country.

Keeping the response to the summit, the minister accused that some are trying to mislead the industrialists.