The Andhra Pradesh government will form a monitoring committee consisting of the Chief Secretary to ensure that investment pledges announced at the Global Investors' Summit translate into real action, Chief Minister Y S Jagan Mohan Reddy said on Saturday.
After signing agreements worth Rs 11.8 lakh crore on the inaugural day on Friday, the Andhra Pradesh secured investments worth around 1.2 lakh crore on the concluding day of the summit today, totaling more than Rs 13 lakh crore with the potential to create more than six lakh jobs.
Deals were struck in as many as 20 sectors through 353 Memoranda of Understanding (MoUs).
The monitoring committee will meet every week and closely follow up on the implementation of the agreements, the Chief Minister said at the valedictory ceremony.
"I sincerely request all of you (investors) to move from the MoU stage to the grounding of your investment at the earliest. We are committed to facilitate a speedy and hassle-free conversion of these MoUs signed into actionable investments," Reddy said.
Besides the Chief Secretary, the committee will also include officials from the Chief Minister’s Office (CMO) and Special Chief Secretary - Industries, he noted.
Further, the investments monitoring committee will sort out all the day-to-day issues being faced by the investors for facilitating speedy grounding of the investment pledges, the Chief Minister added.
Andhra Pradesh Industries Minister Gudivada Amarnath on Friday expressed confidence that the southern state will realise at least 90 per cent of the Rs 13 lakh crore investments pledged at the summit.
He made these observations while answering a query on how generally investment pledges after summits do not translate 100 per cent across the country, trying to cut a realistic figure.
Published 04 March 2023, 15:01 IST