Andhra Pradesh targets investments at upcoming CII summit in Visakhapatnam
The state expects to sign numerous MoUs and generate significant employment during the two-day global economic forum.
Andhra Pradesh is preparing to host the 31st Confederation of Indian Industry (CII) Industrial Summit in Visakhapatnam on November 12 and 13. The two-day event is being organised by the Andhra Pradesh government, the Ministry of Commerce and Industry, and the CII.
According to Telugu Desam Party (TDP) State President Palla Srinivasa Rao, the state anticipates drawing investments of approximately Rs 11 lakh crore and creating around 2.5 lakh jobs during the summit. Rao stated that around 3,800 MoUs are expected to be signed with participation from around 58 countries.
The Hindu reported that the state has already converted 526 of 714 investment proposals received since June 2024 into operational or progress-tracked projects. These secured investments are worth Rs 17.2 lakh crore, representing 76 per cent of the state's total Rs 22.6 lakh crore investment pipeline, with the potential to generate 19.3 lakh jobs.
Chief Minister N. Chandrababu Naidu is scheduled to meet various foreign diplomats, global industry leaders, and Union ministers during the summit. According to Urban Acres, Naidu's schedule includes meetings with the Japanese ambassador Keiichi Ono, UAE minister Abdullah bin Touq Al Marri, and representatives from Singapore, Guatemala, and Slovakia.
Union Home Minister Amit Shah will address the inaugural session on November 12, while Union Commerce Minister Piyush Goyal will chair the summit deliberations. Vice-President C.P. Radhakrishnan is expected to attend the valedictory session.