GIS 2023: Jagan sets up special committee to keep track of over 340 investments

Visakhapatnam: A few days after the Andhra Pradesh Global Investors Summit 2023 that led to investments worth Rs. 13,05,663 crores and employment opportunities for 6,03,223 people, Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy set up a special committee to track the realisation of the investments.

Chief secretary K.S. Jawahar Reddy will lead the special committee to follow up on implementing the 340 investment proposals signed at the two-day Global Investors Summit (GIS) in Visakhapatnam. During the Global Investors Summit, one of the sectors in which significant investments were committed was the renewable energy sector.

In the energy sector alone, 40 MoUs were signed with an investment worth over Rs. 8.8 lakh crores, creating employment for over 1,90,000 people. In the IT & ITES sector, 56 MoUs were signed, amounting to Rs. 25,587 crores of investments which will generate employment for 1,04,442 people. In the tourism sector, 117 agreements were inked to the tune of Rs. 22,096 crores that will create employment for 30,787 people.

“The special committee under the supervision of the chief secretary, industries secretary, and IAS officers will track the realisation of investments and has defined a POC (point of contact) for all the proposals, which will show the dedication and proactiveness of the government,” said industries minister Gudivada Amarnath.

“We are sure we will maintain our 87% investment realisation track record as far as GIS proposals are concerned. Developments on the MoUs will be discussed every week with the CM, and we will ensure that at least two investments are grounded every month,” the minister added.

Major investments

Mukesh Ambani, chairman and managing director of Reliance Industries Limited who was at the GIS 2023, announced that Reliance will build a 10GW solar energy plant in Andhra Pradesh. “We are creating the state’s largest and best digital network footprint by investing over 40,000 crores. Further, the rollout of JioTrue 5G will be completed before 2023 in India, including Andhra Pradesh, and will give employment opportunities for people of AP. Reliance will source significant agri/agro base products, manufacturers from Andhra Pradesh for sale all over India, creating 50,000 livelihoods in the state,” Mr. Ambani added.

· Reliance signed one MoU with an investment of Rs. 5 lakh crores which will generate employment for 1,00,000 people.

· HPCL signed one MoU with an investment of Rs. 14.3 crores which will generate employment for 1,500 people.

· HCL Technologies signed two MoUs with an investment of Rs. 22 crores, generating employment for 5,000 people.

· Flipkart has signed two MoUs with an investment of Rs. 20 crores, generating employment for 300 people.

· National Thermal Power Corporation (NTPC) signed 3 MoUs worth Rs. 2,35,000 crores. They are expected to create 77,000 jobs.

· JSW Group signed 6 MoUs worth Rs. 50,632 crores. They will provide employment to 9,500 people.

· ABC Limited signed one MoU worth Rs. 1.20 lakh crores; 7,000 people from Andhra Pradesh will get employment.

· Aurobindo Group signed 5 MoUs worth Rs. 10,365 crores; 5,250 will get employment.

· Adani Green Energy has signed 2 MoUs with an investment of Rs. 21,820 crores; 14,000 people to get employment.

· Aditya Birla Group has signed two MoUs with an investment of Rs. 9,300 crores; 2,850 people to get employment.

· Jindal Steel has signed one MoU with an investment of Rs. 7,500 crores; 2,500 to get employment.