Sunday, July 14, 2024

Bigger, better investments expected in 2023

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Industries and Information Technology Minister Gudivada Amarnath has said that 2022 was just a trailer, and bigger, better investments in AP are expected in 2023. The comment was made at a press conference organised to brief the media about the Global Investors Summit that is to be held in the State on March 3 and 4. The summit will be held on the Andhra University Engineering Grounds in Visakhapatnam, for which massive arrangements were already underway. Post the summit, Visakhapatnam will host a series of conferences under the G-20 summit banner. This will be preceded by the Global Health Summit and IT Conference that will attract many more investments, confirmed the minister.

“Many other investment announcements will be made in the forthcoming Global Investment Summit in March. The State government will organise roadshows in nine countries i.e. Brazil, Canada, Chile, Germany, Japan, South Korea, Taiwan, the United Arab Emirates and USA as a prelude to the summit,” he informed.

The announcement came just a day after pharma major Granules India announced their strategic partnership with Greenko ZeroC to develop Integrated Green Pharmaceutical Zones (GPZ) in Kakinada district with an investment of over Rs 2,000 crore that will create employment opportunities for thousands of youth in the State. Granules is one of the global leaders in the production of paracetamol molecules. It will develop and promote state-of-the-art integrated Green Pharmaceutical Zones (GPZ) with the first collaboration in Kakinada. Granules will build a green field facility based on sustainability principles for large-scale manufacturing of Key Starting Materials (KSMs), intermediates, APIs and fermentation-based products. Remember, in 2022 alone, the state government cleared investment proposals worth ?1,26,750 crore, a major chunk (?81,000 crore) of it accounted for green energy projects.

IT Minister Amarnath added that while the previous government was focused on developing just one particular region, CM Jagan wanted to develop all regions equally. “Industrialisation and creation of jobs remain the focus of the YSRCP government. As part of it, industries are being set up across all regions in Andhra Pradesh.”

Giving more insights into the efforts put forth by the State government, Minister Amarnath elaborated that the key sectors on which the AP government wanted to focus were Aerospace and Defence, Agriculture, Food Processing, Electronics, Healthcare, Pharmaceuticals, Innovation and Start-Ups, Petrochemicals, Textiles along with Tourism and Hospitality.

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