The AP government led by Chief Minister Chandrababu Naidu, Finance Minister Yanamala Ramakrishnudu and Planning Board vice-chairman Kutumba Rao, besides the senior officials are busy signing MoUs with different firms to pool up investment. While monitoring the listing of the Amaravati Bonds in the Bombay Stock Exchange on one hand, the government spent time exploring the possibilities of mobilising investment for the State from the financial capital of the country.
The AP Economic Development Board signed MoUs with industrial groups, including Retailers Association of India, for growth of retail sector in AP. This MoU was signed by EDB CEO J Krishna Kishore and Kumar Rajagopalan chief Executive Officer, Retailers Association of India in the presence of the Chief Minister. The total retail market in India is Rs 47 lakh crore and it is growing at 7 per cent. A significant share of the market remains untapped by modern retail and this presents a huge opportunity for India and especially AP.
Another MoU signed was with Hikvision India. The Hikvision is one of the world’s leading supplier of innovative video surveillance products and solutions. The interaction with industrialists began after Mukesh Ambani of the Reliance group made a courtesy call on him.
Later Nadir Godrej, Managing Director of Godrej group met the Chief Minister and discussed the company expansion plans in AP. Sangeeta Prasad of Mahindra World City met the Chief Minister and explained the group’s world city projects at Chennai and Jaipur. Aditya Birla Group Chairman Kumara Mangalam also met the Chief Minister and explained the infrastructure development projects.
Neel Chandru Raheja, president of the Raheja Group, experts in construction of hotels and convention centres and malls, explained their plans and employment opportunities to six to ten thousand youth. The Chief Minister asked the group to construct big convention centres and malls at Visakhapatnam, Vijayawada and Tirupati besides a small mall at Anantapur. He requested the group to impart training to youth in hotel management.
Balakrishna Goenka, chairman of Welspun, said that they are ready to enter into a joint venture in cultivation of organic cotton with AP farmers on buy-back mode. He assured that farmers would get 33 per cent more yield and a price more than MSP. The Chief Minister asked him to submit the project.
Purnendu Chatterjee of Haldia Group made a proposal to set up a unit in AP to provide employment to five lakh people. Vikas Deep Gupta of Piramal Group, Mangal Prabhat Lodha of Lodha group, Subhas Chandra of Essel group, Venkat Subrahmanian, MD of St Gobain India limited met Chief Minister at a one on one meeting and discussed their proposals.