GIS2023: From Reliance to Flipkart, here are firms investing in Andhra Pradesh

Visakhapatnam: Andhra Pradesh Global Investors Summit 2023 (GIS 2023) received 340 investment proposals worth Rs. 13,05,663 lakh crores, which will generate employment opportunities for 6,03,222 people.

At the valedictory function held on Saturday at Andhra University engineering grounds in Visakhapatnam, 260 MoUs worth Rs. 1.17 lakh crores were signed in 13 sectors. The sectors that have attracted investments include energy department, industries and commerce department, IT and ITES department, tourism department, and agriculture and animal husbandry.

In his concluding remarks, Chief Minister Y.S. Jagan Mohan Reddy said, “I request all of you to move from the MoU stage to the grounding of your investments in Andhra Pradesh at the earliest. We assure you that our government will demonstrate our ‘speed of facilitating businesses’.”

He said that one of the sectors in which significant investments were committed is the renewable energy sector. These proposed investments into renewable energy generation pumped storage, and production of green hydrogen and green ammonia would make a significant contribution to India’s commitment towards achieving net zero emission.

Later, the Chief minister remotely inaugurated 14 industrial facilities. These units have been set up with an investment of Rs. 3,841 crores and will provide employment to 9,108 people.

Department-wise investments

The highest number of MoUs, 117 worth Rs. 22,096 crores, were signed in the tourism sector. They will generate employment for 30,787 people. Investments in other sectors were:

· The energy department saw 40 MoUs worth Rs. 8,84,823 crores that will generate nearly 1,90,268 employment opportunities.

· In the IT &ITES sector, 56 MoUs were signed worth Rs. 25,587 crores. They will generate employment for 1,04,442 people.

· The agriculture department saw 15 MoUs worth Rs. 1,160 crores, and the animal husbandry department signed 8 MoUs worth Rs. 1,020 crores that will generate 3,750 jobs.

Major investments

· 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.