CII summit: 11 MoUs signed on second day

As many as 11 MoUs worth Rs 1,40,705 crore were signed with an estimated employment potential of 10,472 jobs in the presence of Chief Minister N Chandrababu Naidu on the second and concluding day of the 31st CII  Partnership Summit in Visakhapatnam on Friday. In addition to the 11 MoUs, a Government Order was issued at the CII Summit for the expansion of Hindalco Industries Limited in the Chemicals and Petrochemicals sector under the jurisdiction of APIIC, involving an investment of Rs 880 crore and expected to generate employment for 447 individuals.

Later, addressing the industrialists, Chief Minister N. Chandrababu Naidu called upon them to focus not only on signing agreements but also on grounding projects and ensuring their timely implementation. He assured that the State Government would extend complete support to industries in taking their projects forward.

The Chief Minister expressed happiness over Hero MotoCorp coming forward to provide financial assistance to 1,120 students through the Brij Mohan Lall Munjal Scholarship. He also thanked ITC for extending support to the P4 initiative as part of its corporate social responsibility.

He said that support had been extended to 25,000 Bangaru Kutumbalu (Golden Families) under the initiative. Citing Prime Minister Narendra Modi as an example of someone who rose from an extremely poor family to the highest position in the country, he emphasised the importance of creating opportunities for the underprivileged to progress in life.

The Chief Minister said the State Government had earmarked 5,000 acres near Tirupati for the space sector, adding that the region was well suited for industries in the space and defence sectors. Stating that modern technological advancements were transforming everyday life, he stressed the need to adapt our thinking and approach to changing times. He said Andhra Pradesh offered tremendous investment opportunities in diverse sectors, including semiconductors, artificial intelligence, quantum technology and aerospace.

He called upon premier educational institutions such as IITs across the country to come forward, use Andhra Pradesh as a laboratory for research and development, and promote innovation and discoveries.

The Chief Minister, however, emphasised that wealth creation must go hand in hand with improving the living standards of the poor. He said education, healthcare, and the economic and social conditions of underprivileged communities must be strengthened.

He explained that the P4 initiative was launched with the objective of transforming the lives of underprivileged families by extending support and creating opportunities for their advancement.

Referring to a recent report by O.P. Jindal Global University, he said Andhra Pradesh secured the second position in the country in the Access to Equality Index. Despite economic challenges, the State was among the leading states in providing economic and social security to its people, he added.

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