Chief Minister YS Jagan Mohan Reddy said the investment pledges have the potential to create over six lakh jobs in the state.
During the summit, the state attracted several mega projects in the green energy sector.
The new projects, including the 10 GW Reliance Industries plant, will solidify Andhra Pradesh’s position as a leader in the green energy sector.
All major industrial groups in India including Adani, Jindal, JSW, Dalmia, Shree have pledged to invest in the state.
Speaking at the farewell ceremony, CM Reddy said that 352 deals have been signed across 20 sectors, among which the energy sector stood out with 40 deals and commitments worth Rs 8.84 lakh crore with job creation potential labor of 1.9 lakh, he said.
“In the IT and ITES sector, 56 MoUs have been signed, amounting to Rs 25,587 crore of investment and will generate employment for 1,04,442 people. In the tourism sector, 117 agreements have been signed involving an investment amounting of Rs 22,096 crore, which will create jobs for 30,787 people,” said Reddy.
Furthermore, he pointed out that the renewable energy sector was one of the sectors that attracted significant investments and noted that these would require a lot of time for renewable energy generation, pumped storage and green hydrogen and green ammonia production.
Reddy said these developments will give India’s commitment to achieving net zero emissions a shot in the arm.
On the last day of the GIS, the prime minister virtually inaugurated 14 companies which brought Rs 3,841 crore worth of investments 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 industries involving 100 speakers, showcasing the southern state’s strengths.
He said the investments have prompted the state government to redouble its efforts, including being more supportive and welcoming.
Earlier, addressing the inaugural session of the summit, a visibly jubilant Reddy said that the port city of Visakhapatnam it would soon become the state’s executive capital.
“Visakhapatnam will be the executive capital of the state. The entire administration will be handled from this port city. I will be moving here very soon,” YS Jagan said.
(With inputs from PTI)