Andhra Pradesh is all set to host the three-day, 24th edition of the Confederation of Indian Industry (CII) Partnership Summit 2018, in Visakhapatnam from Saturday. Government of Andhra Pradesh, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, and CII will be hosting the Summit. Suresh Prabhu, Union Minister for Commerce and Industry, is the Chair of the Summit.
The Andhra Pradesh government, which claims to have garnered an investment of Rs 14.89 lakh crore through the first two editions of the summit held in Visakhapatnam, hopes to secure Rs 2.56 lakh cr through 281 memoranda of understanding during the third consecutive edition after bifurcation. According to AP state Investment Promotion Board (APSIPB), the MoUs once materialise will fetch employment to 4.25 lakh people across the state.
To beat fierce competition for investments, the state has created an institutional mechanism to track and monitor the investment procedures with a Special Advisory Task Force and an organisational structure. Following the two rounds of the summit, Andhra Pradesh catapulted into top position in the implementation of Business Reforms Action Plan (BRAP), along with being the top ranked State in the World Bank's Ease of Doing Business (EoDB).
The previous two editions hosted in Andhra Pradesh in 2016 and 2017 have been immensely successful, and have been major contributors towards spurring Andhra Pradesh's growth.
The latest edition will have sessions revolving around automobile, tourism, aerospace, defence, textiles, renewable energy, food processing, medical equipment and electronics.
Published 23 February 2018, 15:42 IST