Andhra Pradesh Kicks-Off Global Investors’ Summit 2023 with Diplomatic Meet: Over 40 Nations Participate, Among Business Delegations & Captains of the Industry
New Delhi, January 31, 2023: The Curtain Raiser to the Andhra Pradesh Global Investors’ Summit 2023, started on a pulsating note as the Hon’ble Chief Minister Sri YS Jagan Mohan Reddy graced event, interacting with the diplomatic entities of over 40 nations who participated to evince interest in the state’s potential as the country’s leading business and investment destination.
Leading captains of the industry, executives and trade bodies attended the session, in a show of interest and acknowledgment to the investment destination par excellence, that Andhra Pradesh is.
Captains of the Industry provided testimonials as to their experience of operating in the state:
- Mr. Tae Jin Park, MD & CEO, KIA Motors (South Korea)
- Mr. Yamaguchi, MD & CEO, Toray Industries (Japan)
- Mr. Deepak Dharmarajan Iyer, President, Cadbury India (USA)
- Mr. Roshan Gunawardhana, Director, Everton Tea India Pvt. Ltd (Italy)
- Mr. Sergio Lee, Director, Apache & Hilltop Group (Taiwan)
- Mr. B Santhanam, CEO- India, Saint Gobain Industries (France)
The Hon’ble Chief Minister Sri YS Jagan Mohan Reddy said, “You mean a lot to us. We are here to provide you a platform, an experience that shall be unlike any other that you have come across. The Honorable Prime Minister has shown us the way in taking India to newer heights and, within India, Andhra Pradesh is an exciting geography—the fastest growing state with 11.43% growth rate, with unparalleled offerings in terms of Ease of Doing Business, where we have been consistently ranked first for three consecutive years, in terms of stakeholder feedback, with a 974 km coastline, the state has a competitive logistics advantage of access to six ports, and there are four more that are coming up.”
The Hon’ble Minister for Industries & Commerce, Infrastructure & Investment, Information Technology, Sri Gudivada Amarnath said, “The Andhra Pradesh Global Investors Summit 2023, will showcase the strength of Andhra Pradesh as an unparalleled business destination, with a plethora of opportunities across sectors. More importantly, the partner nations, the business delegations, and the Captains of the Industry coming together shall form an eclectic learning platform for us. This shall take the state to newer heights.”
- Mr. Jin Park, MD & CEO, KIA Motors, acknowledged the commitment by shown by the administration, in facilitating Ease of Doing Business; KIA Motors’ presence has expanded in the state, with the company investing over Rs. 10,000 crore over a span of five years; the vehicles produced at the plant are today being exported to over 95 countries, thereby making Andhra Pradesh an auto
- Mr. B Santhanam, , CEO- India, Saint Gobain Industries stated how the company is today marching towards net zero model; how the state provided unprecedented support towards seamless manufacturing amid the Covid-19 pandemic
Some of the key highlights on Andhra Pradesh that came out during the session are as follows:
- The port town of Vishakhapatnam shall be transformed into a world-class executive capital for the state of Andhra Pradesh
- ‘YSR Jagananna Mega Industrial Hub’ (YSR JMIH) is being developed over an extent of 6,739 acres near the Kopparthy node of VCIC. Further, phase-I of the ‘YSR Electronics Manufacturing Cluster (EMC)’ adjoining the YSRJMIH is being developed over an extent of 540 acres
- The Government of India has accorded in-principal approval for the development of AP Bulk-Drug Park with the financial assistance of INR 1,000 Cr (USD 125 Mn), at KP Puram and Kodhada village of Thondagi Mandal of East Godavari district.
- Government of India has also accorded approval for the development Multi-Modal Logistics Parks (MMLPs) at Anantapur and Visakhapatnam, while similar proposals for MMLPs at Orvakal and Kopparthy are also under discussion.
- APIIC has developed Mega Food Park under the Mega Food Park Scheme by MoFPI at Mallavalli village, Bapulapada Mandal, Krishna district. A Core Processing Centre (CPC) within this park is being developed, along with basic enabling infrastructure to aid the establishment of Food Processing Units in the Park. CPC is located within Mega Food Park and is spread over an extent of 7.48 acres.
- 225 acres in Kopparthy, Kadapa district is proposed to be developed as a Power Equipment manufacturing HUB with Grant support from the Government of India
- APIIC is also developing industrial parks through financial assistance under the MSE-CDP scheme released by the Government of India. It has already developed 11 industrial estates and 22 projects is further being proposed.
- Andhra Pradesh Industrial Infrastructure Corporation (APIIC), has developed over 534 industrial estates, with adequate infrastructures such as power, water, ETP, STP, common facilities, plug-and-play facilities, etc.
- Only State in India with four dedicated Electronics Manufacturing Clusters (EMC).
- YSR EMC is being developed over 500 acres, with a project cost of over INR 750 crores (USD 90 Mn.), to cater to global large-scale electronics industries.
- Around 60% of the State’s population is employed in agriculture and related activities, which enables Andhra Pradesh to be a leader in hosting various downstream processing industries. The GVA of the Agriculture & Allied Sector for the year 2021-22 is estimated to be INR 2 Lakh Crore, with a growth rate of 11.27%
- Andhra Pradesh is one of the fastest-growing Automotive hubs in India. Many leading automobile companies have invested in the State including Kia Motors and its ancillaries, Isuzu Motors, Hero Motors, Ashok Leyland, Apollo Tyres, and Bharat Forge, owing to the state’s strategic location and conducive investment climate.
- Andhra Pradesh is India’s Automobile hub with proximity to Automobile clusters, 21 Autonagars, Consumption Centres, a robust ecosystem of auto ancillaries and a focus on Electric Vehicle public transportation.
- Andhra Pradesh is committed to becoming the chosen investment destination in India in Aerospace & Defence manufacturing with enabling policies, a vibrant ecosystem, strong ports & airport infrastructure, a natural resource base, skilled manpower and a conducive business environment.
- Andhra Pradesh is also home to Asia’s largest “Integrated Medical Devices Manufacturing Park – AP Med-Tech Zone (AMTZ)” which is set up in 270 Aces in Vishakhapatnam. Andhra Pradesh has a robust pharma value chain enabling seamless to and fro linkages for product development and clinical research
- The State is home to 250+ APIs/Bulk Drug units of which 38 are approved by the World Health Organization (WHO) and 20 are approved by the United States Food and Drug Administration (USFDA). The pharmaceutical sector in Andhra Pradesh has a significant contribution to India’s production value and national exports. The sector has also attracted over INR 18,000+ Cr (USD 2.5 Bn) investments as of FY 21-22, generating about 88,984 direct employments in total.
- The State is setting up a new Bulk Drug Park in Kakinada over an area of 1,000 acres and in-principal approval for the same has been granted by the Government of India. The State has also incorporated the Andhra Pradesh Environment Management Corp. Ltd. to organize & enhance waste management facilities, especially bio-medical waste and cater to the waste management need of pharma industries
- Andhra Pradesh is among the largest producers of cotton, the 2nd largest producer of raw silk, and stands 4th in jute production in India. The state boasts over 200 ginning and processing units. Spinning units in the state contribute to 7% of India’s total capacity, exporting supreme quality yarn to top players in both domestic as well as international market
- The MSMEs across India account for nearly 27 percent of India’s GDP in the financial year 2021. The MSME sector in Andhra Pradesh manufactures a variety of products with the majority of the micro and small units actively engaged in sectors such as Agri & Food Processing, Aqua processing, Automotive, Textiles, Minerals, Granite, Leather, Fabricated Materials, Construction material, etc.