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AP Partnership Summit: MoUs Worth Rs 5L Crore Signed


Surpassing expectations, the state government succeeded in grabbing the eyeballs of the investors at the end of the CII Partnership Summit, by signing a whopping 331 memoranda of understanding (MoUs) with various companies involving an investment of about Rs 4.78 lakh crore. These investments are expected to create nearly 10 lakh jobs. On the third and last day of the summit, the government signed 50 MoUs for an investment of Rs 91,650 crore.

Making the announcement amidst applause from the delegates at the Summit valedictory, Chief Minister N Chandrababu Naidu who persuaded the Union Ministry of Commerce and the Confederation of Indian Industry (CII), to organise the next summit in Visakhapatnam, said: “The 23rd Edition of our CII partnership summit 2017 at the same venue - Visakhapatnam, will make us review the MoUs already inked, while going for a new bunch of MoUs,” he said. He said that sky is the limit to the investors in the Sunrise State of Andhra Pradesh.

The CM proposed for establishment of a forum akin to the World Economic Forum-Davos that also engages the political, intellectual and other leaders of civil society, NGOs, besides the people from business community to shape global, regional and industry agendas. He proposed Visakhapatnam to be the permanent venue for the regular summits of such fora. “The CII may have similar partnership summits with other states. But the regular meetings of the forum that I am supposing permanently at Visakhapatnam must develop new initiatives and actions to help the common man,” he said. He also reiterated strategy for achieving inclusive growth to distribute the high growth achieved equally to all sections of society.

Union Minister for Chemicals and Fertilisers Ananth Kumar showered a slew of projects for Andhra Pradesh including a greenfield petrochemical complex and a medical device manufacturing park among others. He termed Chandrababu as a visionary and true inheritor of late NT Rama Rao's legacy. “Both Prime Minister Narendra Modi and Chandrababu Naidu will herald a golden era for not only Andhra Pradesh but also the country,” he said. Recalling his association with the state, Ananth Kumar said that his forefathers hailed from Anantapur and his family members were fans of NTR.

In his valedictory address, Governor ESL Narasimhan supported the CM's proposal to hold Davos-type event with stakeholders every year under the aegis of CII. Stating that 'happiness quotient' is the real benchmark for progress of any state, he commended the companies which inked MoUs with the state government. Union Minister for Civil Aviation P Ashok Gajapathi Raju, Union Minister of State for Science and Technology YS Chowdhary, ESSEL Group chairman Subhash Chandra, CII president Sumit Mazumder were present.

On the occasion, ESSEL Group signed two MoUs with the state government, including a project with an investment of Rs 13,000 crore for manufacturing solar panels from silica and creating 15,000 jobs. Nearly 1,500 delegates from 42 countries participated in the three-day summit.

Key Outcomes

  • 331 MoUs signed
  • Projected investments worth `4.78 lakh crore
  • 10 lakh estimated jobs
  • Over 40 bilateral meetings held
  • More than 700 B2B (business-to-business) meetings held

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