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What is the story about?
Andhra Pradesh IT and Human Resource Development Minister Nara Lokesh on Tuesday, 20 January, urged investors at the World Economic Forum (WEF) Summit to consider the state as a key destination for investment, emphasising that it is “just one WhatsApp message away” and committed to “sharpen” the speed of doing business.
Speaking to CNBC-TV18 on the sidelines of the Davos Summit, he said the state is fully prepared to welcome both domestic and global investors.
“Andhra Pradesh is ready to do business. We are just one WhatsApp message away, and it's exciting times and India is the place to be,” Lokesh noted, when asked about the message the state wished to send to potential investors.
He further highlighted India’s appeal as an investment hub, encouraging global players to take a closer look at Andhra Pradesh.
“For all the global investors, India is the future. So you should look at India and give a chance to Andhra Pradesh and we won't let them (investors) down,” he said.
Lokesh added that the government intends to focus on improving and accelerating the ease and speed of conducting business in the state.
"We want to work with the government of India. We are looking at decriminalisation of various laws, also (new) labour reforms, where we can sharpen this and have a unique competitor advantage compared to any state in India," Lokesh said.
The minister further stated that the Andhra Pradesh government attracted 25.3% of investments that have come into India. "We are back and we are ready to do business."
Future of Andhra investments and 90-days timeline
The HRD minister said that "good news" around investments across 22 various clusters ranging from aqua, cement, renewable energy, and quantum, among others can be expected in the next 90 days.
"Andhra Pradesh is very cluster dependent so we are very clear that all the companies of a certain sector should be in one cluster so that they can stand the test of time," he said.
Outlining the next stage of announcements across various sectors, Lokesh said that India's 153-cubic quantum computer is going to land in Andhra this month. The government is working on the use-cases for it, he said.
Apart from that, the government is also looking at sectors such as glass. "How can we build a glass city, a space city, a drone city," Lokesh remarked, adding that private space startup Skyroot has made an announcement of building a space centre in the state.
Lokesh also said that the Andhra government has been able to generate about 400,000 jobs and it aims to produce two million jobs in the next five years as part of the promise made during the election campaign.
LIFT Policy and tech companies
Ask the IT Minister how many more companies are going to invest in the state under the LIFT (Land Incentive For Tech hubs) Policy, and he says that would be revealed in the next 90 days.
The minister further stated that discussions with various companies such as Cognizant and TCS happened at the Davos Summit only.
Lokesh further stated that automotive, renewable energy, space, electronics manufacturing and shipbuilding, among other sectors, have potential to grow exponentially.
Speaking to CNBC-TV18 on the sidelines of the Davos Summit, he said the state is fully prepared to welcome both domestic and global investors.
“Andhra Pradesh is ready to do business. We are just one WhatsApp message away, and it's exciting times and India is the place to be,” Lokesh noted, when asked about the message the state wished to send to potential investors.
He further highlighted India’s appeal as an investment hub, encouraging global players to take a closer look at Andhra Pradesh.
“For all the global investors, India is the future. So you should look at India and give a chance to Andhra Pradesh and we won't let them (investors) down,” he said.
Lokesh added that the government intends to focus on improving and accelerating the ease and speed of conducting business in the state.
"We want to work with the government of India. We are looking at decriminalisation of various laws, also (new) labour reforms, where we can sharpen this and have a unique competitor advantage compared to any state in India," Lokesh said.
The minister further stated that the Andhra Pradesh government attracted 25.3% of investments that have come into India. "We are back and we are ready to do business."
Future of Andhra investments and 90-days timeline
The HRD minister said that "good news" around investments across 22 various clusters ranging from aqua, cement, renewable energy, and quantum, among others can be expected in the next 90 days.
"Andhra Pradesh is very cluster dependent so we are very clear that all the companies of a certain sector should be in one cluster so that they can stand the test of time," he said.
Outlining the next stage of announcements across various sectors, Lokesh said that India's 153-cubic quantum computer is going to land in Andhra this month. The government is working on the use-cases for it, he said.
Apart from that, the government is also looking at sectors such as glass. "How can we build a glass city, a space city, a drone city," Lokesh remarked, adding that private space startup Skyroot has made an announcement of building a space centre in the state.
Lokesh also said that the Andhra government has been able to generate about 400,000 jobs and it aims to produce two million jobs in the next five years as part of the promise made during the election campaign.
LIFT Policy and tech companies
Ask the IT Minister how many more companies are going to invest in the state under the LIFT (Land Incentive For Tech hubs) Policy, and he says that would be revealed in the next 90 days.
The minister further stated that discussions with various companies such as Cognizant and TCS happened at the Davos Summit only.
Lokesh further stated that automotive, renewable energy, space, electronics manufacturing and shipbuilding, among other sectors, have potential to grow exponentially.
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