Partnership summit claims Rs 41,000 cr investments on first day

The first day of the CII-sponsored partnership summit in Visakhapatnam projects a whopping investment that runs into a few thousand crore of rupees. One paper had projected it at Rs 41,000 crore, while another paper had put it at Rs 31,000 crore investments on the first day. There is a difference of Rs 10,000 crore and people are confused about the actual investment promises that were received on the first day.

The last two summits have seen Rs 3,44,201 crore and Rs 7,65,994 investments respectively for three days. But, this time, the first day itself had seen investment promises running into several times more than what the two summits have received. There are two more days to go and at this rate, the investment projections are likely to cross or come close to Rs 1 lakh crore. That would be really a good initiative for the new State if that all turns into a reality.

Andhra Pradesh needs investments and the government had taken several steps to attract the investors. The single window clearance for the investors is a positive step from the government that brings down the time and treachery in getting clearances. The State is full of resources in terms of lands, water, energy and manpower for any investor to come and put some money. The infrastructure too is impressive, though needed to be added some more, for the investors to lay their hand here. The road, rail and air connectivity is good for the travel of the corporates. However, the hotels are yet to come. The existing hotels in places like Vijayawada, Visakhapatnam and Tirupati are not as impressive as the infrastructure and other facilities.

The government has to focus on promoting hotels and has to look into this aspect. The investment summit would require focusing on bringing big hotels from Mumbai, Bengaluru, Chennai and other metros. There is also a great need for convention centres for the corporates to have their conferences. The well-dressed men and the stylish women from the corporate companies need equally rich and stylish hotels and convention centres for their gatherings. Unless these facilities are provided, it is not going to be of any use in holding summits like this.

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