Ahead of Global Investors Summit, Andhra Pradesh govt to host roadshow in Bengaluru

The state government will host a two-day global investors summit from March 3-4, 2023, at Visakhapatnam with "a vision to make the southern state India's gateway to South East Asia by 2050", with an objective to emerge as a preferred global destination for investments.

Themed "Advantage Andhra Pradesh", Global Investors Summit will highlight the state’s strengths that include its large manufacturing base, robust presence of MSMEs and Start-ups, good infrastructure, business-friendly environment, and its pool of talented, skilled young population. With focus on key sectors such as IT, Manufacturing, Pharmaceuticals, Automobile, Tourism, and Energy, the summit aims to engage with investors, industry leaders, and government officials.

According to state government officials, Prime Minister Narendra Modi, Apple CEO Tim Cook, Tesla CEO Elon Musk, Google CEO Sundar Pichai and Microsoft Executive Chairman and CEO Satya Nadella are on the invitees list of the Andhra Pradesh government for its Global Investors Summit (GIS).

Around 15 union ministers, 15 chief ministers, 44 global industrialists, 53 Indian industry bigwigs and ambassadors of various countries are being invited for the two-day event on which the Y. S. Jagan Mohan Reddy-government is betting big to attract large-scale investments into the state.

Andhra Pradesh has consistently been ranked first in Ease of Doing Business (EoDB) for the last three years, which is significant given that this survey is based on perception survey.

According to the numbers released thus far, it has the highest double-digit GSDP growth rate in the country in 2021-22, at 11.43 percent. It also has maritime infrastructure, as it is India’s gateway to the southeast, with 974 km of coastline, the second longest in the country, 6 existing ports, and 4 upcoming ports.

It has a favourable business environment and industry-focused policies, as well as a proactive government guiding the state. Three of the country’s eleven industrial corridors are being built in Andhra Pradesh alone. To name a few, the state has received the LEADS award for logistics 2022, the Inertia Award for Energy 2022, the ET award for port led, and the infrastructure project 2022.