Andhra received 340 investment proposals worth Rs 13L cr: CM Jagan Reddy

Visakhapatnam (Andhra Pradesh) [India], March 3 (ANI): Andhra Pradesh Chief Minister Jagan Reddy on Friday said the state received 340 investment proposals worth Rs 13 lakh crore that will provide employment to 6 lakh people across 20 sectors in the state. Speaking at the ongoing ‘Andhra Pradesh Global Investors Summit 2023’, the CM said, “We have received 340 investment proposals worth Rs 13 lakh crore that will provide employment to 6 lakh people across 20 sectors distributed all over the state.

” The chief minister added, “As of today, post this speech, 92 MoUs with 11.85 lakh crore, which will give employment to almost four lakh people.” “Groups like Reliance Group, Adani Group and Aditya Birla Group, Aurobindo Group, Daiken, NTPC, IOCL, Jindal Group, Mondeley’s expressed their interest in the state,” the CM said. On Friday, during this event, Reliance will create 50,000 new job opportunities in Andhra Pradesh and will promote sale of products made in the state through retail business, chairman Mukesh Ambani said on Friday.

Ambani, addressing the ongoing ‘Andhra Pradesh Global Investors Summit 2023’, said, “Reliance Retail will source significantly more agri and agrobased products and manufactured goods from Andhra Pradesh for sale all over India.”
Referring to the revolution in the retail sector, Ambani, in the presence of CM Jagan Mohan Reddy, said Reliance Retail has partnered with more than 1.2 lakh grocery merchants in 6,000 villages of Andhra Pradesh.

Small businesses, he said, have been equipped with the tools they need to thrive in the digital age. Reliance Retail has by far provided more than 20,000 direct jobs and a large number of indirect jobs in Andhra Pradesh. Talking about its telecom arm Reliance Jio, Mukesh Ambani said the rollout of Jio True 5G will be completed before the end of 2023 across India, including Andhra Pradesh.

Andhra Pradesh IT and Industries Minister Gudivada Amarnath said ahead of the summit that the state government was ready to give all the permit licenses and required lands to the business investors in the southern state.
Amarnath stated that the Andhra Pradesh government would take necessary steps so that 80 per cent of the MOUs made in the Andhra Global Investment Summit 2023 are converted.

“Andhra Pradesh chief minister has suggested additional assistance if they ground the MoUs made within six months. Similarly, some incentives have been created based on investments. The CM has stated that the target of this conference is to attract investments of Rs 2 lakh crore,” Amarnath said. The minister further stated that the aim is to bring in huge investments and provide employment to the youth. A new investment policy will be brought in favour of industrialists and if there is no problem with the election code, the state government will announce the industrial policy on Friday, otherwise else it will be announced after 15 days.