Andhra Pradesh Chief Minister Jagan Reddy on Friday said the State received 340 investment proposals worth Rs 13 lakh crore that will provide employment to 6 lakh people across 20 sectors in the State.
Two-day Global Investors’ Summit (GIS) launched to showcase investment potential in Andhra Pradesh began here on Friday on the sprawling Andhra University Engineering College Grounds.
On day-one, 92 MoUs were with an investment of Rs.11.85 lakh crore with a job opportunity for four lakh. On the concluding day remaining MoUs will be signed,” said the Chief Minister.
Mukesh Ambani was the star attraction in the summit. Ambani on Friday said that there is an all pervasive confidence that Andhra will emerge as a leading player in new India’s growth story. Ambani said that Reliance has been among the first corporate to believe in the stupendous economic potential of Andhra Pradesh.
On Friday, during this event, Reliance will create 50,000 new job opportunities in Andhra Pradesh and will promote sale of products made in the state through retail business, he further added.
Today, the natural gas produced by Reliance at “the KG-D6 basin is fuelling India’s clean energy transition and will contribute to nearly 30 per cent of India’s gas production”, the Ambani said. He added, “This is just an example of how important Andhra is to the India story and how deeply Reliance is invested in the Andhra story.”
He also said that Reliance Jio 4G network covers 98% of Andhra Pradesh’s population, including those living in the remotest corners of the state. The rollout of Jio’s True 5G will be completed before the end of 2023 throughout India, he said.
Andhra Pradesh IT and Industries Minister Gudivada Amarnath said ahead of the summit that the state government was ready to give all the permit licenses and required lands to the business investors in the southern state.
Amarnath stated that the Andhra Pradesh government would take necessary steps so that 80 per cent of the MOUs made in the Andhra Global Investment Summit 2023 are converted. “Andhra Pradesh chief minister has suggested additional assistance if they ground the MoUs made within six months. Similarly, some incentives have been created based on investments. The CM has stated that the target of this conference is to attract investments of Rs 2 lakh crore,” Amarnath said.