Chief Minister YS Jagan Mohan Reddy said the investment pledges have the potential to create over six lakh jobs in the state.
During the summit, the state attracted several mega projects in the green energy sector.
The new projects, including a 10GW plant by Reliance Industries, will strengthen Andhra Pradesh’s position as a leader in the green energy sector.
All major industrial groups of India including Adani, Jindal, JSW, Dalmia, Shree have pledged to invest in the state.
Speaking at the closing ceremony, CM Reddy said that 352 agreements were signed across 20 sectors, of which the energy sector stood out through 40 deals and promises worth Rs 8.84 lakh crore with an employment generation potential of 1.9 lakh.
“In the IT and ITES sector, 56 MoUs were signed, involving an investment of Rs 25,587 crore and providing employment to 1,04,442 people. In the tourism sector, 117 agreements have been signed for an investment of Rs 22,096 crore. Which will generate employment for 30,787 people,” said Reddy.
Furthermore, he pointed out that the renewable energy sector was one of the sectors that attracted significant investment and observed that these would go a long way in renewable energy generation, pumped storage and production of green hydrogen and green ammonia.
Reddy said these developments will reinforce India’s commitment towards achieving net zero emissions.
On the last day of GIS, the Chief Minister virtually inaugurated 14 companies that invested Rs 3,841 crore, creating 9,108 jobs. Some of these companies include Kimberly Clark, BlueStar, NGC Transmission, Laurus Labs, and Win Win Labs.
According to Reddy, the summit hosted parallel sessions on 15 sectors with 100 speakers each, showcasing the southern state’s strengths.
He said the investment has prompted the state government to redouble its efforts, which include being more friendly and welcoming.
Earlier, beaming with joy while addressing the inaugural session of the summit, Reddy had announced that the port city Visakhapatnam The city will soon become the executive capital of the state.
YS Jagan said, “Visakhapatnam is going to become the executive capital of the state. The entire administration will be run from this port city. I will be here very soon.”
‘Monitoring committee will implement the promise of investment’
CM Reddy said his government would set up a monitoring committee headed by the chief secretary to ensure that the investment promises announced at the summit translate into actual action.
The Chief Minister said at the closing ceremony that the monitoring committee would meet every week and closely monitor the implementation of the agreements.
“I sincerely request all of you (investors) to move beyond the MoU stage based on your investments at the earliest. We facilitate fast and hassle-free conversion of these MoUs signed into actionable investments,” Reddy said. Committed to.”
He said that apart from the Chief Secretary, the committee would also include officials from the Chief Minister’s Office (CMO) and Special Chief Secretary-Industries.
Andhra Pradesh Industries Minister Gudivada Amarnath on Friday expressed confidence that at least 90 per cent of the Rs 13 lakh crore investment made at the summit would be felt by the southern state.
(With inputs from PTI)