Naidu woos investors at CITI India Investor Conference 2015

Chandrababu Naidu at Citi Investor Conference in Mumbai

Chandrababu Naidu at Citi Investor Conference in Mumbai

Mathew Cyriac of Blackstone, Padmanabha Sinha of Tata Capital, Satish Mandana of IDFC Mutual Funds, Anu of Brookfield Asset Management, Sandeep Kothari of Fidelity Worldwide Investment, Krishna Gotety of GIC Real Estate were some of the heads of companies who met the Chief Minister Chandrababu Naidu in Mumbai.

Naidu delivered a keynote speech and made a powerpoint presentation on Monday at the CITI India Investor Conference 2015 on the investments opportunities in Andhra Pradesh.

Highlighting growth engines in the state, the Chief Minister said that Vizag is a major industrial hub while the food and marine processing is a major contributor to the state.

Andhra Pradesh also has a strong dairy and poultry industry and is a leading producer of cement and paper, he said, adding that AP has a strong presence of textile and metallurgy industry. “Andhra Pradesh also is the emerging hub for Pharma, Biotechnology, Electronics, Chemical and Petrochemical Industries,” he said.

Later, at a round-table with investors, he said that government’s thrust areas include a Life Sciences Hub, an Automobile Hub, Food Processing Parks, Mineral Processing, Defence & Aerospace Hubs, Industrial Townships, Petro-Chemical Complexes, Integrated Textiles and Apparels Parks and establishment of  Electronic clusters.

On the ease of doing business, he said AP was the first state to have a Single Window Act (2002) and currently, a single-desk mechanism is being streamlined. He said that the maximum time for all clearances is 21 days and the government will make a provision for deemed approvals and exemptions.

“We will also provide hand-holding services to investors, and enable them to file online applications,” the Chief Minister explained to investors.

The Chief Minister said that the government is also mulling spot approvals system, exemptions for investors proposing investments in certain category of industries from having to seek approvals and assignment of inspection to private technical experts in the private sector.

“We also have a grievance redressal mechanism where a structured mechanism for addressing grievances of applicants is proposed to be established,” he added.

Andhra Pradesh also has sector-specific policies for customized impetus to the thrust sectors. The policies formulated are Solar & Wind Policy, IT Policy, Electronics Policy, Innovation and Start-up Policy, Industrial Water Policy and Tourism Policy,” he said.

“Industrial Policy, PPP Policy, Sector-specific Policies such as Textile & Agro-Processing, Port Policy and Maritime Board Act and Private Universities Bill are on the anvil,” the Chief Minister said, adding that the state also has a progressive labour policy.

The Chief Minister said that Andhra Pradesh has transparent policy of land allotment and has a land bank of one million acres. That apart, the state also offers to develop industrial parks on PPP basis, development of private industrial parks and townships, he added.

He added that the state is also mulling construction of Smart Industrial Townships which will be set up on PPP basis. Later, he will be interacting with Stanford University Alumina on the state’s skill development mission.

INTEREST IN ANDHRA PRADESH

Suez Energy International’s Bernard met the Chief Minister and evinced interest in investing Rs15,000 crore in different sectors. He briefed the CM that the company has strong presence in gas and energy sector across the world.

Later, Rajeev Shukla of Suzlon Group met the Chief Minister and told that he is keen on introducing their hybrid technology in the solar and wind sectors in Andhra Pradesh.

Dev Bhattacharya, Executive President of the Aditya Birla Group, told the Chief Minister that the company is exploring opportunities in infrastructure, power and logistics sectors. He informed the Chief Minister that they are keen on AP’s housing sector.

Sudhir Valia, executive director of Sun Pharma, met the Chief Minister and discussed about the investment opportunities in the sector. The Chief Minister explained that Vizag is a pharma hub and that several other companies from the sector are keen on moving to Andhra Pradesh.