Global Investors Summit in Visakhapatnam: Day one attracts investments worth 11.87 lakh crores

The Global Investors Summit 2023 commenced in Visakhapatnam, Andhra Pradesh, on a massive scale with delegates of international and national level firms and investments worth lakhs of crores. On the first day of the summit, a total of 92 Memorandums of Understanding (MoUs) were signed, amounting to 11,87,756 crores, generating 3.92 lakh employment opportunities in the state.

The Energy Department attracted 35 investment proposals with 8.25 lakh crore investment, generating 1.33 lakh opportunities. It was followed by Industries & Commerce, which attracted around 41 proposals, with an investment of 3.20 lakh crores that would generate 1.79 lakh employment. The IT and ITES Department managed to get six proposals with an investment of 32,944 crores, which will generate employment for 64,815 people. The Tourism Department got ten proposals with an investment of 8,718 crores which will generate employment for 13,400 people in the state.

National Thermal Power Corporation (NTPC) has signed 3 MoUs with an investment of INR 2,35,000 crore which will generate employment for 77,000 people. JSW Group signed 6 MoUs, the largest amongst the lot, with an investment of INR 50,632 crore, which will generate employment for 9,500 people. Whereas ABC Limited has signed 1 MoU with an investment of INR 1.20 lakh crore, generating employment for 7,000 people of Andhra Pradesh. Aurobindo Group signed five MoUs with an investment of INR 10,365 crores, which will generate employment for 5,250 people. Adani Green Energy has signed 2 MoUs with an investment of INR 21,820 crores, which will generate employment for 14,000 people.

Aditya Birla Group has signed two MoUs with an investment of INR 9,300 crores, generating employment for 2,850 people. Jindal Steel has signed an MoU with an investment of INR 7,500 crores, generating employment for 2,500 people. Day one of the Global Investors Summit in Visakhapatnam witnessed 64 companies signing MoUs and hefty investments with the Andhra Pradesh State Government.

The sprawling sports grounds of Andhra University are hosting the two-day meet, where about 200 stalls have been set up, including over 30 showcasing the various advantages of investing in Andhra Pradesh in 13 crucial sectors identified by the government. The venue consists of five massive halls, and each hosts different events such as government-to-business (G2B) meetings, seminars, and meetings. Over 8,000 dignitaries and investors from across India and 40 other countries, including China and the USA, are attending the Global Investors Summit in Visakhapatnam.

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