CII Partnership Summit promises a lot for Vizag

The recently concluded CII Partnership Summit in Vizag managed to attract a whopping number of investments to Andhra Pradesh. Various sectors such as textile, energy, IT, electronics, food processing, etc. were ushered with large-scale investments.

The city of destiny, Vizag too has been promised a lot over the three days of the summit. Reportedly, about 147 industries, worth Rs 45,527 crores of investment, are set to be established in Visakhapatnam district. As per the numbers revealed by the district officials, it has also been learned that as many as 1,14,749 jobs would be generated in the district with the upcoming industries.

Speaking at the CII Summit, Andhra Pradesh Chief Minister Nara Chandrababu Naidu said the state is endowed with people possessing innovative skills and he aimed at developing Visakhapatnam as Innovative Valley, on the lines of Silicon Valley in the US. The Chief Minister also added that the government is working towards establishing Andhra Pradesh as one among the top 3 investment destinations in the country by 2022 and as a premier global investment destination by the year 2050.

Mr. Suresh Prabhu, Minister for Commerce and Industry, who was also present at the event, said Andhra Pradesh overcame stiff challenges to emerge as one of the fastest growing states in the country. The minister mentioned that the centre was working closely with the state government to transform it into a major automobile manufacturing hub.