The Partnership Summit 2012
The Partnership Summit 2012, an international business event organised by the Confederation of Indian Industry (CII), in association with the Department of Industrial Policy & Promotion, Government of India, and Government of Andhra Pradesh, with the theme of “New Age Innovation Partnerships” which was started on a very positive note concluded today with the the Andhra Pradesh government receiving 243 proposals involving an investment of Rs 6.47 lakh crore during the most successful Partnership Summit-2012 that was held in Hyderabad under the direct supervision of the dynamic and dashing Chief Minister Shri N.Kiran Kumar Reddy.
Shri N.Kiran Kumar Reddy-Chief Minister Govt. of Andhra Pradesh
Chief Minister N Kiran Kumar Reddy looked very much amused and satisfied on the successful conclusion of the Summit which had delegates from more than 40 countries. The government has already given approval for 23 projects worth Rs.71,000 crores. The projects are expected to create job opportunities for six lakh people in Andhra Pradesh. Andhra Pradesh has the highest conversion rate in terms of approving and implementing projects. It is the first State in India India
CII Young Indians
The investment proposals include Rs 1.25 lakh crore from the Public Sector Units. Mr.Kiran Kumar Reddy announced after the summit that he would monitor the progress of these proposals every month and as he said the G2B portal (Government to Business) will be launched in the next three months through which a lot of hassles will be removed. The one-stop shop portal for businesses would be the first of its kind in India, and would become a role model in e-governance. Mr.Kiran Kumar Reddy dedicated his three days completely for the summit and he mingled with each and every delegate during the summit at the HICC and at the cuktural program and the dinner hosted by him in the honour of the delegates at the most beautiful Rock Heights Gardens at Hi-Tech City.
Cultural program and dinner hosted by Hon'ble CM for the delegates
The Hyderabad is known as the city of Pearls and Nawabs which attracts the gems. The Chief Minister has made the announcement at the end of the summit that the government would give special packages with tax incentives, concessions in land cost and stamp duty to industries committing an investment of USD 50 million and above, and those that provide employment to over 2000 people. The Rashtriya Ispat Nigam Limited (Vizag Steel) is mulling to invest Rs 42,500 crore for its expansion plans and has requested the government for some iron ore mines which the Government may consider.
The delegates at the Summit
Similarly, infrastructure major GVK Group signed an MOU with the State Government for power capacity addition of 6400 MW involving investment of Rs 40,000 crore. There is no power shortage as of now. The State government entered into new MoUs for 54,000 MW already for coal gas, hydro, wind and solar put together. There is 15,700 MW installed capacity. Peak demand is also 13,200 mw. This was explained by the visibly happy Chief Minister after the summit. The state government has signed agreements with various power producers including NTPC, GVK Power and other State Government entities such as APGENCO and Singareni Collieries for setting up power projects involving an aggregate investment of Rs 2 lakh crore. The two-day Summit drew as many as 1500 delegates from over 40 countries. Gita Irawan Wirjawan, Minister of Trade, Indonesia, Sheikha Lubna Bint Khalid Al Qasimi, Minister for Foreign Trade, UAE, Senator Mark Warner, Senate India Caucus, USA, Goh Chok Tong, Emeritus Senior Minister, Singapore were among those attended the Summit. The Partnership Summit was jointly organised by the Union Commerce Ministry, the Confederation of Indian Industry and the Andhra Pradesh government. Mr.Anand Sharma, Union Minister for Commerce and Industry spoke about about the strategic advantage the India gives for the foreign investment and the well insulated economy of the country. He said that India offers a very condusive investment and business environment and is among the safest countries for the business growth.
Khaleequr Rahman and Mr.Jay Galla CII President A.P.
Mohd.Badruddin National Chairman Indo American Chamber of Commerce with the delegates
One of the biggest proposals came from GMR Group, which expressed interest in investing Rs 33,000 crore for setting up a 15 million tonne refinery-cum-petrochemicals complex and a multi-product SEZ in the Vizag-kakinada region. This comes in the wake of ONGC withdrawing from the Kakinada Greenfield refinery-cum-petrochemicals project, with the GMR Group proposing to pick up the divested stake. BR Shetty Group has expressed interest to investment another Rs 30,000 crore to put up a refinery project at the PCPIR region in Visakhapatnam. The Yash Birla group concluded a MoU involving an investment of Rs 13,000 crore to set up a sports city (Rs 2,000 crore) and an Ayurveda complex (Rs 750 crore), Rs 10,000 crore poly silicon plant, within the next 18 months.
Mr.Mark Mueller, Associate Economic Affairs, Consulate General USA and Khaleequr Rahman
The Chief Minister, Mr Kiran Kumar Reddy, who signed the MoUs on behalf of the government, said committed improved infrastructure and a hassle-free environment conducive to attracting investments. I congratulate our beloved and the dynamic Chief Minister and the CII on the grand success of the Partnership Summit 2012.
Mohd.Khaleequr Rahman
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