CII Summit is being held in Visakhapatnam since 2016. Industrialists from 50 Nations have been taking part in this summits. Even Ambanis and Tatas made their presence felt in the past few years. Whereas, How many of the MoUs signed in the past two years have yielded results is big doubt in everyone's mind.
CM Chandrababu Naidu claims AP signed MoUs worth Rs 3.44 lakh crore in 2016 and MoUs worth Rs 6.98 lakh crore in 2017. He claims AP would emerge as Most Preferred Destination by 2050.
However, HRD Minister Ganta Srinivasa Rao disclosed as many as 304 MoUs signed in the past two Summits had been scrapped due to lack of seriousness in the Investors. 'About 42.85 percent of MoUs signed in 2016 CII Summit brought 35.16 percent investment and 11.13 percent employment. Whereas, 10 percent of MoUs signed in 2017 fetched 1.03 percent investment and 1.39 percent employment,' he informed.
Having learnt lessons from these setbacks, AP Government wishes to sign MoUs only with well-experienced investors in the 3rd edition of CII Summit starting from Saturday. A target of 400 MoUs and Rs 3 lakh crore investment has been set by the Chief Minister. People of AP want employment opportunities not publicity stunts anymore. Hopefully, AP Govt adopts realistic approach at least this time.
CM Chandrababu Naidu claims AP signed MoUs worth Rs 3.44 lakh crore in 2016 and MoUs worth Rs 6.98 lakh crore in 2017. He claims AP would emerge as Most Preferred Destination by 2050.
However, HRD Minister Ganta Srinivasa Rao disclosed as many as 304 MoUs signed in the past two Summits had been scrapped due to lack of seriousness in the Investors. 'About 42.85 percent of MoUs signed in 2016 CII Summit brought 35.16 percent investment and 11.13 percent employment. Whereas, 10 percent of MoUs signed in 2017 fetched 1.03 percent investment and 1.39 percent employment,' he informed.
Having learnt lessons from these setbacks, AP Government wishes to sign MoUs only with well-experienced investors in the 3rd edition of CII Summit starting from Saturday. A target of 400 MoUs and Rs 3 lakh crore investment has been set by the Chief Minister. People of AP want employment opportunities not publicity stunts anymore. Hopefully, AP Govt adopts realistic approach at least this time.