Andhra Pradesh Government to host investment drive in Chennai, ahead of Global Investment Summit 2023

The government of Andhra Pradesh is gearing up to host another investor meet in Chennai next, on February 17th, 2023, as part of its efforts to attract businesses and investors to the upcoming Andhra Pradesh Global Investment Summit (GIS) 2023. The event in Chennai follows a successful event held in Bengaluru on February 14th, 2023, which was preceded by an equally triumphant curtain-raiser event in New Delhi on January 31st.

The investor drive has been carefully designed to give businesses and investors a taste of what's to come at the summit, which is set to take place in Visakhapatnam on March 3-4, 2023. Under the theme of "Advantage Andhra Pradesh - Where Abundance Meets Prosperity" the summit will showcase the state's strong industrial base, robust presence of MSMEs and start-ups, and investor-friendly atmosphere.

The summit is intended to highlight the formidable industrial base, well-established presence of MSMEs and start-ups, and overall investor-friendly environment of the southern state. With its sizeable manufacturing base, impressive infrastructure, business-friendly policies, and skilled and talented young population, Andhra Pradesh is widely recognized as a key player in the Indian economy.

The GIS will offer a deep dive into critical sectors such as IT, Manufacturing, Pharmaceuticals, Automobiles, Tourism, and Energy. The conference will provide a chance to network and engage with key investors, influential industry leaders, and government officials, with attendees having ample opportunity to explore the diverse range of investment prospects available throughout the state.

Andhra Pradesh is well-known for its large manufacturing base, excellent infrastructure, business-friendly environment, and pool of talented, skilled young people. The state has consistently ranked first in Ease of Doing Business (EoDB) for the last three years, which is significant given that this survey is based on stakeholder feedback. 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 per cent. It also has the maritime infrastructure, as it is the gateway to Southeast ASIA, with 974 km of coastline, the second longest in the country, 6 airports, 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 almost cutting across the state covering more than 80 per cent of the districts. To name a few, the state has received the LEADS award for logistics 2022, the Enertia Award for Energy 2022, the ET award for port led, and the infrastructure project 2022.

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( With inputs from ANI )

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