Synopsis
During the WEF summit in Davos, Andhra Pradesh Chief Minister N. Chandrababu Naidu actively promoted the state as an attractive investment hub, meeting with investors and business leaders to discuss various opportunities across multiple sectors.Key Takeaways
- Chandrababu Naidu advocates for investment in Andhra Pradesh.
- Focus on sectors like pharmaceuticals and textiles.
- Potential for Swiss companies to establish operations.
- Strong support from the state government with incentives.
- Collaboration opportunities with Swiss universities.
Amaravati, Jan 20 (NationPress) On the opening day of his visit to Davos on Monday for the World Economic Forum (WEF) summit, Andhra Pradesh Chief Minister N. Chandrababu Naidu made a compelling case for attracting investment into the state.
Leading a delegation from the state government, Naidu engaged in multiple discussions with investors and business leaders, highlighting the extensive potential of Andhra Pradesh as a prime investment locale.
He also met with Indian Ambassador to Switzerland, Mrudul Kumar, in Zurich, discussing the possibilities for Swiss companies to invest in Andhra Pradesh.
Mrudul Kumar informed Naidu that more than 350 companies from Switzerland, including Nestle, Novartis, and ABB, have established operations across various regions in India, with many more industrialists eager to invest.
Naidu emphasized that Andhra Pradesh presents numerous opportunities in sectors such as pharmaceuticals, medical devices, technology, textiles, and the manufacturing of rail components.
The Chief Minister requested the Indian envoy's assistance in fostering collaboration between universities in Switzerland and those in Andhra Pradesh, particularly with the forthcoming skill and AI universities.
Naidu also conveyed to Mrudul Kumar that Andhra Pradesh boasts a highly efficient workforce across all sectors, ready to provide services through a work-from-home framework.
Education, IT, and Electronics Minister Nara Lokesh expressed the need for the Indian envoy's support in establishing facilities for pharmaceutical giants like Novartis, Roche, Lonza, and Alcon in Andhra Pradesh.
Lokesh mentioned that the state government recently introduced a new industrial policy along with multiple investor-friendly initiatives.
The state government is offering attractive incentives to companies in sectors including manufacturing, textiles, machinery, hardware and electricals, rail component manufacturing, pharmaceuticals, and medical equipment production.
Mrudul Kumar facilitated a meeting between the Chief Minister and the Chief Executive Officers (CEOs) of four leading Swiss companies, along with other prominent figures.
Chandrababu Naidu concentrated on the investment opportunities within Andhra Pradesh, emphasizing the state's skilled workforce and inviting top business leaders to invest by taking advantage of both state and central business-friendly policies, as well as infrastructural benefits and skilled human resources.
The Chief Minister underscored the advantages for investments in Andhra Pradesh, including access to advanced research and development centers, strong collaboration with innovation hubs and incubators, and opportunities for joint ventures in advanced manufacturing sectors such as aerospace, automotive, and energy.
The Indian ambassador in Switzerland assured that necessary cooperation would be provided to encourage Swiss companies to establish their operations in Andhra Pradesh. Union Civil Aviation Minister K. Ram Mohan Naidu, State Industry Minister T.G. Bharat, CEO of the Andhra Pradesh Economic Development Board (APEDB) Saikanth Sarma, and others were present.
