Andhra Pradesh is gearing up to host the Global Investment Summit, a highly anticipated event on March 3rd and 4th, 2023 and will bring together prominent dignitaries from different industries around the world. The summit provides a platform for investors and industrialists to announce their investment plans in the state of Andhra Pradesh, which has emerged as India’s fastest-growing state under the dynamic leadership of Honorable Chief Minister Shri Y.S. Jagan Mohan Reddy.
Global Investors Summit, Vishakhapatnam March 3-4, 2023
Before the summit, Shri Y.S. Jagan Mohan Reddy, Hon’ble Chief Minister, Government of Andhra Pradesh stated, “We have the second largest coastline in the country with six operating ports and four more will be operational soon. We have six airports connecting the important cities of the country and AP will have three industrial corridors out of 11 in India covering 80 percent of the districts.”
The inaugural session of the summit will feature key note addresses from Shri Mukesh Ambani, Chairman & Managing Director, Reliance Industries Ltd.; Shri Gautam Adani, Chairman, Adani Group; Shri K.M. Birla, Chairman, Aditya Birla Group; Shri Hari Mohan Bangur, Chairman, Shree Cement Ltd.; Shri Sajjan Jindal, Chairman, JSW Group; Shri Sanjiv Bajaj, Managing Director & CEO, Bajaj Finserv; and Shri Naveen Jindal, Chairman, Jindal Steel & Power Ltd.
On the first day of the March 3rd summit, post the opening ceremony, panel discussions will be organised to highlight all of the essential sectors. Shri G.M. Rao, Chairman, GMR Group; Shri Sajjan Bhajanka, Chairman, Century Plyboards; Shri Sumant Sinha, Chairman & Managing Director, Renew Power; Shri Puneet Dalmia, Managing Director, Dalmia Bharat Group; Mr. Cyrill Gutsch, Founder & CEO, Parley for the Advisors Oceans; Mr. Craig Cogut, Founder & CEO, Pegasus Capital; Mr. Martin Eberhard, Co-founder & Former CEO, Tesla Inc; Shri Satya Tripathi, Secretary General, Global Alliance for a Sustainable Planet; and Shri Arjun Oberoi, Executive Chairman of Oberoi Group will discuss the opportunities offered by Andhra Pradesh.
The hon’ble Chief minister has emphasized the state government’s commitment towards the betterment of the state. He had stated, “Which government in Independent India has delivered on its promises like us? Without corruption or leakage, a direct benefit transfer of over Rs. 1.92 lakh crore has been given covering every segment. The disbursed amount is a record in terms of state GDP and revenue to per capita benefit per citizen. And not a single promise made before elections has been ignored.”
On March 4, the second day of the summit, industrialists and the AP government will sign memoranda of understanding for setting up industrial units in various sectors. B2B meetings will be organised to promote interaction between potential investors and major industry players to facilitate investments. Industry-focused sessions will take place, including discussions on disease prevention led by Dr. Suchitra Ella, the founder and chairman of Bharat Biotech, and a talk on leading the revolution in pharmaceutical research and development by Dr. Satish Reddy, the chairman of Dr. Reddy’s Laboratories. There will also be a discussion on the advantages of Andhra Pradesh led by Shri Rajesh Mandawewala, the managing director of Welspun Group.
There are several global industries that have set up shops at Andhra Pradesh already and have very encouraging words for the state government.Tae Jin Park, MD & CEO, of KIA Motors, shared that KIA has become the top automobile manufacturer in India’s auto industry, producing 3 lakh cars per annum and generating employment opportunities for around 10,000 people across KIA India and vendor partners. “Over five years, KIA has invested Rs. 10,000 crores in Andhra Pradesh, and the state government has provided significant support, in land acquisition, power availability, and connectivity to ports. The government’s commitment to the automobile industry has been a crucial factor in encouraging KIA to invest in the state. The government has taken essential steps to develop and nurture the automotive chain by providing resources and infrastructures to set up operations,” Mr. Park said.
Mr. Tae Jin Park also conveyed his appreciation for the government of Andhra Pradesh for their support during the difficult times of the COVID pandemic, which allowed them to manufacture cars safely. “This has reinforced our trust in the state’s ecosystem and strengthened our commitment to it. The state of Andhra Pradesh has provided us with ample land facilities, which has enabled us to build world-class car manufacturing facilities, including electric vehicles. The state’s ease of connectivity, including its proximity to major ports such as Visakhapatnam and Chennai, has helped us sell our cars not just across India, but also across 95 countries in the world,” he added.
Similarly, Mr. Deepak Iyer, President of Cadbury India, has expressed his gratitude towards the Andhra Pradesh government for offering one of the best single-window clearance systems in the country. He stated, “Having conducted business across the country for many years, we can attest that this is among the best systems we have encountered.”
Mr. Iyer shared that they operate the largest chocolate manufacturing site in the Asia Pacific region in Sricity, Andhra Pradesh. “We have invested over Rs. 2500 crores, and created over 600 direct jobs, as well as numerous indirect jobs in transportation, warehousing, and distribution. It is worth noting that approximately 50% of our machine operators are women, whom we have recruited and trained from small villages across Andhra Pradesh to operate our state-of-the-art factory. Furthermore, we take great pride in our commitment to hiring local talent, with 80% of our factory employees being from the surrounding communities,” he revealed.
Apart from manufacturing, Mr. Iyer highlighted that they also cultivate cocoa in multiple districts of Andhra Pradesh, such as East Godavari, West Godavari, Vizag, and Vijaynagar. “We work with approximately 3000-4000 farmers each year to grow cocoa, a crop that requires minimal land and can be grown between coconut and palm trees. Together, we produce between 8000-9000 tonnes of cocoa annually,” he added.
Mr. Yamaguchi, MD & CEO of Toray Industries shared that their company invested Rs. 1000 crore in Andhra Pradesh and established two business units, which were PP spun bond and engineering plastics.
He informed, “Unfortunately, shortly after commencing operations, the COVID-19 pandemic forced us to temporarily shut down. However, with the immense support we received from the AP government, we were able to resume production in June 2020 and have been operating ever since. As part of our mid-term and long-term business plans, we have decided to invest in a new business unit in the south of AP. We are currently assessing our facility and production capabilities, with the goal of more than doubling them.”
The summit will also feature keynote addresses from several Union Ministers from the Government of India, including Shri Nitin Gadkari, Hon’ble Union Minister of Road, Transport & Highways, Govt. of India; Shri Piyush Goyal, Hon’ble Union Minister of Commerce & Industry; Consumer Affairs, Food & Public Distribution and Textiles, Govt. of India; Shri R.K. Singh, Hon’ble Union Minister of Power and New & Renewable Energy, Govt. of India, and Shri G. Kishan Reddy, Hon’ble Union Minister of Culture; Tourism and Development of North Eastern Region, Govt. of India. They will address the summit and highlight the progress made and investment opportunities present in different sectors.
On day two of the summit, there will be several industry focused sessions such as a discussion on Andhra’s role in India’s tech & data edge led by Shri Rajeev Chandrasekhar, MOS – Electronics & IT, India; a conversation on how Andhra can power India’s sea trade by Shri Sarbanand Sonowal, Minister of Ports, Shipping, & Waterways.
The GIS 2023 is expected to be attended by delegates from over 40 countries, making it a truly global platform for businesses to explore investment opportunities in Andhra Pradesh. The summit will focus on ‘Advantage Andhra’ and its impact on India’s modern economy. The sessions will also include discussions on sustainable development, India’s tech and EV revolution, and India’s gateway to Southeast Asia, among other topics.