Over 350 delegates to attend the 2-day business conclave
`The stage is set for the partnership summit being conducted by the Confederation of Indian Industy (CII) in association with the Andhra Pradesh Government here on Friday and Saturday, and it will focus on achieving sustained economic growth in the present global economic order, according to CII Director-General Chandrajit Banerjee.
Union Finance Minister Arun Jaitley, AP Chief Minister N. Chandrababu Naidu, several other Union ministers, state ministers, CEOs of companies and foreign delegates will participate in the inaugural session on Friday morning.
He said here on Thursday that the response to the summit was overwhelming and "more than 350 delegates from different countries are participating in the two-day summit. The CEOs of many major companies and distinguished academics will be participating in the summit." There would be several sessions on achieving sustained economic growth, the strategies to be adopted for co-operation among nations and the direction the Indian economy is taking in the aftermath of demonetisation.
"Of course, there will be a session on Sunrise Andhra Pradesh and issues relating to the State. The construction of the new capital, Amaravati, the great investment opportunities emerging in the State after bifurcation, and infrastructure-related issues will be discussed," he said. He expressed confidence that the State would be able to attract a huge chunk of investment, as it did last year, and the investment would be good both in terms of quantity and quality.
In response to a question, he said the CII had requested the Union Government to reduce the corporate tax to just 18 per cent in the coming Union Budget, doing away with all the exemptions and incentives. "It would make life easier for the industry and the Government," he added.
According to a press release issued by the State Government, during last year's CII partnership summit here, Rs 4,67,577 crore worth of MoUs were signed. The total number of committed projects stood at 328, generating employment to 9,58,896 persons. "In the above mentioned projects, 38 units have gone into production with an investment of Rs 52,987 crore and 6 other units are into trial production and the investment is Rs 1,519 crore. Besides, another 16 units got their machines erected which value around Rs 14,700 crore and in another 29 units civil works have commenced. For another 13 units approvals are granted which value around Rs 23,754 crores. Besides this, land has been allotted to 8 units which value around Rs 6,611 crore," adds the release.
For this year’s CII summit, 425 companies have sent their proposals to invest around Rs 6,83,107 core. The summit will be attended by more than 4,000 persons.