Andhra Pradesh received Rs 13 trillion as investments: CM Jagan Mohan Reddy

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Friday said the state has received investment proposals worth Rs 13 lakh crore with an employment opportunity for six lakh people.

Speaking at the inaugural session of the Global Investors Summit 2023 being held here, the Chief Minister said MoUs worth Rs 11.85 lakh crore will be signed today and the rest would be formalised on Saturday.

He also said the investment proposals are from Reliance, Adani Group, Aditya Birla group, ReNew power, NTPC and Aurobindo Group among others.

Reddy reiterated that Visakhapatnam would become the executive capital of Andhra Pradesh in the days to come and he will be moving over to the port city.

"It is a proud moment to announce that the state has received 340 investment proposals with an investment of about Rs 13 lakh crore providing employment to almost six lakh people across 20 sectors," he said.

He further said 2023 is an important year for India as the country is hosting the G20 summit under the leadership of Prime Minister Narendra Modi.

He said AP is a leading state and is blessed with abundant natural resources with a long coastline and robust infrastructure with ports, six airports and three industrial corridors passing through it.

A press release from the State Government said AP signed 92 MoUs worth Rs 11,87,756 lakh crore on the first day of the summit.

The Energy Department attracted 35 investment proposals worth Rs 8.25 lakh crore generating 1.33 lakh jobs followed by the Industries & Commerce department that attracted around 41 proposals with an investment of Rs 3.20 lakh crore with job potential to 1.79 lakh people, it said.

The IT and ITES Department managed to get six proposals with investment of Rs 32,944 crore which will generate employment for 64,815 people.

The Tourism Department managed to get 10 proposals with investment of Rs 8,718 crore which will generate employment for 13,400 people of the state.

Among the major investors, NTPC signed three MoUs with an investment of Rs 2.35 lakh crore which will generate employment for 77,000 people.

JSW Group signed six MoUs, involving an investment of Rs 50,632 crore which will generate employment for 9,500 people.

Aurobindo Group signed five MoUs with an investment of Rs 10,365 crore which will generate employment for 5,250 people.

Adani Green Energy has signed two pacts and an investment proposal of Rs 21,820 crore potential to generate 14,000 jobs.

Union Minister for Road Transport Nitin Gadkari, who spoke at the inaugural session, assured to develop four-lane highways connecting all ports in Andhra Pardesh.

The sprawling sports grounds of Andhra University is hosting the two-day meet, where about 200 stalls have been set up, including over 30 showcasing the various advantages of investing in AP in 13 crucial sectors identified by the government.

The venue consists of five massive halls and each hall will host different events such as government-to-business (G2B) meetings, seminars, and meetings. Over 8,000 dignitaries and investors from across India and 40 other countries including China and USA are attending the event.