Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Monday said preparations for the forthcoming Global Investors' Summit (GIS) are in full swing. Scheduled to be held on March 3 and 4 in the port city of Visakhapatnam, the state government is leaving no stone unturned to make it a success, as it is pinning hopes on the event to garner investments. "Preparations are in full swing in Visakhapatnam for the AP Global Investors' Summit I welcome everyone to come and experience the beauty and vibrancy of our Andhra Pradesh," tweeted Reddy.
In the run-up to the summit, the southern state has showcased its strengths in a string of metropolises through roadshows, including the Chief Minister himself flying out to Delhi vouching for the state to investors and diplomats recently. Earlier, Industries Minister Gudivada Amarnath shared a short video of the preparations underway for the summit in Visakhapatnam, the state's largest city with a port. Meanwhile, the state government issued a release on Monday describing the advantages it can accord to investors in the mining industry."Andhra Pradesh is a treasure trove of more than 48 minerals, including bauxite, manganese, graphite, lead-zinc, heavy mineral beach sands, iron ore, limestone, high-quality quartz, quartzite and silica sand among others," said the release.
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Further, it noted that the state is number one in barytes production, accounting for 92 per cent of barytes reserves in India. Similarly, it highlighted the aerospace and defence sector in the state, detailing the favourable policies and robust infrastructure."The state boasts of significant establishments, including DRDO, Bharat Electronics Ltd, Bharat Dynamics Ltd, and the National Atomic Research Laboratory (NARL)," it said.
According to the release, BEL is setting up a Defence Systems Integration Complex for Weapons and Radars in the Anantapur district and a new generation electro-optics and advanced night vision cameras unit in the Krishna district. Likewise, it noted that an air cargo complex near Visakhapatnam is in the pipeline, envisaged to give a shot in the arm of AP's logistics infrastructure. "Andhra Pradesh is the fastest growing state in the country with an 11.43 per cent growth rate, which is the highest in the country so far. Consistently for three years, Andhra Pradesh is ranked No. 1 in ease of doing business," Reddy added.
