Investors’ summit deals will create 6 lakh plus jobs: Andhra Pradesh CM

Andhra Pradesh has garnered investment pledges worth Rs 13,05,663 lakh crore with a potential to create 6,03,223 jobs during the two-day Global Investors Summit (GIS), said Chief Minister Y S Jagan Mohan Reddy on Saturday.

Speaking at the valedictory ceremony, he said 352 agreements were signed in 20 sectors, out of which the energy sector stood out through 40 deals and pledges worth Rs 8.84 lakh crore with a job creation potential of 1.9 lakh, he said. “In the IT & ITES sector, 56 MoUs were signed, amounting to Rs 25,587 crore of investments and will generate employment for 1,04,442 people. In the tourism sector, 117 agreements have been inked for an investment to the tune of Rs 22,096 crore, that will create employment for 30,787 people,” said Reddy.

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Further, he pointed out that the renewable energy sector was one of the sectors which drew significant investments and observed these would take renewable energy generation, pumped storage and production of green hydrogen and green ammonia a long way. Reddy said these developments will give a shot in the arm to India’s commitment towards achieving net zero emissions.

Earlier on the final day of GIS, the Chief Minister virtually inaugurated 14 companies which brought investments worth Rs 3,841 crore to create 9,108 jobs. Some of these companies included Kimberly Clark, Bluestar, NGC Transmission, Laurus Labs and Win Win Labs. According to Reddy, the summit hosted parallel sessions on 15 sectors involving 100 speakers, showcasing the strengths of the southern state. He said the investments have prompted the State government to redouble its efforts, including being more conducive and welcoming.