The government of Andhra Pradesh is hosting an investment drive in Mumbai on February 20th, 2023, as part of its efforts to attract businesses and investors to the upcoming Andhra Pradesh Global Investment Summit (GIS) 2023. The event in Mumbai follows successful events held in Chennai and Bengaluru which were preceded by an equally triumphant curtain-raiser event in New Delhi.
The investment drive in Mumbai is designed to give businesses and investors a glimpse of the opportunities available in Andhra Pradesh. The upcoming summit, set to take place in Visakhapatnam on 3rd & 4th March, 2023, will showcase the state’s strong industrial base, robust presence of MSMEs and start-ups, and investor-friendly atmosphere under the theme of “Advantage Andhra Pradesh – Where Abundance Meets Prosperity.”
The summit aims to highlight the southern state’s formidable industrial base, well-established presence of MSMEs and start-ups, and overall investor-friendly environment. Andhra Pradesh is widely regarded as a key player in the Indian economy, owing to its sizable manufacturing base, impressive infrastructure, business-friendly policies, and skilled and talented young population. The GIS will provide in-depth analysis of critical industries such as IT, manufacturing, pharmaceuticals, automobiles, tourism, and energy. The conference will give attendees the opportunity to network and engage with key investors, influential industry leaders, and government officials, as well as explore the diverse range of investment opportunities available throughout the state.
The Mumbai investment drive will be attended by Sri G. Amarnath, Industries Minister, Andhra Pradesh Government, Sri B. Rajendranath, Finance Minister, Andhra Pradesh Government, Sri Mettu Govinda Reddy, APIIC chairman, Smt. Bandi Sivasakthi Nagendra Punyasheela APIDC chairman, amongst other dignitaries. This drive will allow businesses and investors to network with key decision-makers and explores investment opportunities in Andhra Pradesh. The event will include keynote addresses on investment opportunities in the state from industry leaders and government officials.
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 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.