Chandrababu bags USIBCs Transformative Chief Minister Award
The Dollar Business Bureau Chandrababu Naidu, Chief Minister of Andhra Pradesh, has been selected for the US-India Business Council’s (USIBC) ‘Transformative Chief Minister Award’ for his role in strengthening the partnership between India and the US at the state level. The award would be presented to the Chief Minister on May 8, 2017 during the Annual West Coast Summit of USIBC in the Menlo Park, California, according to a statement. The summit will see an assembly of 150 industry leaders from across sectors including information technology (IT), manufacturing, healthcare, food processing, clean energy, banking, digital payments and officials from the Government of India for exploring the effects of manufacturing in India, the country’s move towards digitisation and cashless society and the future of ...
Kakinada SEZ signs multiple MoUs at CII Summit
The Dollar Business Bureau Kakinada SEZ Ltd. (KSEZ), a subsidiary of GMR Infrastructure Limited (GIL) has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ during the CII Partnership Summit 2017 held on January 27 and 28 at Visakhapatnam, AP. GMR Group is developing a world-class Industrial Zone – Kakinada SEZ, spread over 8500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 million tonnes. Kakinada is often referred to as the “Houston of India” owing to the existence of Hydro-Carbon reserves and the Oil & Gas infrastructure. Acknowledging the advantage of Kakinada SEZ which is the largest industrial area with port connectivity in this region, Indian Oil & ...
AP Summit boasts 4.25 lakh crores worth MoUs on day-1
The Dollar Business Bureau On the very first day of the Sunrise Andhra Pradesh Investment Summit being held in Visakhapatnam, a staggering number of 128 pacts were signed, amounting to Rs. 4.25 lakh crore. This new flood of investment in the state is projected to create job opportunities for 5.5 lakh people, majorly in the sectors of mining and healthcare. Some of the big names, which have signed MoUs during the two-day event are Indani Global, Neopharma, Inox Wind, REC, Ceat and NSL Mining. The Sunrise state of India, Andhra Pradesh, has been ranked no.1 in 'ease of doing business' by Department of Industrial Policy and Promotion (DIPP) for 2015-16. Arun Jaitley, Minister of Finance, at the CII Partnership Summit, hailed the state for its impressive growth rate and promised support ...
AP to construct worlds 6th largest startup hub
Sairaj Iyer Finance and technology have become so intertwined that many financial organizations would aver they are not a financial company per se, but a technology company rendering financial services. Moreover, factors such as demonetization, digital India and a plethora of digitization campaigns are only testimony to the growing importance of technology. It is obvious that when India is going gaga over digitization a state like Andhra Pradesh headed by a tech savvy Chief Minister cannot be left behind. If the official comments of the secretary of the state government of Andhra Pradesh are to be believed, the state is fast on its way to carve the world’s 6th largest startup hub. Officials close to the development delved into the details of ...
Swiss-based Stadler to consider manufacturing rail coaches in Visakhapatnam
The Dollar Business Bureau Chief Minister of Andhra Pradesh, N. Chandrababu Naidu has managed to rope in investment for the fledgling city of Visakhapatnam yet again. As part of his trip to Davos, of which the main agenda is the annually held World Economic Forum (WEF), the Chief Minister has piqued the interest of a major Swiss-based train manufacturing concern, Stadler. According to Chief Minister's Office (CMO), Stadler has agreed to set up a locomotive and rail coach manufacturing unit in Visakhapatnam, its second such unit in India after the one already existing in Kanchrapara, West Bengal. “The Chief Minister, during his talks with Stadler executives, invited them to set up their manufacturing unit in AP and they consented to it,” the release from CMO stated. Stadler, which has a presence in 11 locations across Europe, ...
Naidu to head panel of CMs to boost digital payment systems
PTI To promote the use of digital payment systems to encourage transparency, financial inclusion and prepare a roadmap in this regard, the Modi government has formed a committee headed by Andhra Pradesh Chief Minister Chandrababu Naidu.Odisha CM Naveen Patnaik, Madhya Pradesh CM Shivraj Singh Chouhan, Sikkim CM Pawan Kumar Chamling, Puducherry CM V Narayanasamy, Maharashtra CM Devendra Fadnavis are other Chief Minister in the panel which also includes NITI Aayog Vice-Chairman Arvind Panagariya, and Amitabh Kant CEO, NITI Aayog.Nandan Nilekani, former Chairman, UIDAI, Janmejaya Sinha, Chairman, Boston Consulting Group, Rajesh Jain, Managing Director, netCORE, Sharad Sharma, Co-founder, iSPIRIT and Jayant Varma, Professor (Finance), IIM (Ahmedabad) are experts who as special invitees are part of the high level panel.According to officials, the ...
APEDB signs agreement with Russia's JSC United Shipbuilding
The Dollar Business Bureau The Andhra Pradesh Economic Development Board (APEDB) on Wednesday signed an agreement with Russia’s largest ship-building company JSC United Shipbuilding Corporation for establishing a shipbuilding facility in the state. JSC United is likely to do an investment of around Rs.100 crore in the proposed project. The APEDB also signed a memorandum of understanding (MoU) with TechnoNICOL Corporation of Russia for setting up a world-class manufacturing facility in the district of Visakhapatnam to manufacture shingles, membranes and other roofing and waterproofing products. The MoUs were signed in the presence of Andhra Pradesh Chief Minister N Chandrababu Naidu and visiting Minister for Trade and Industry of Russia, Denis Menturov. JSC United and APEDB will jointly look for the ‘prospects of potential collaboration’ to organise passenger and ...
Venkaiah lays foundation stone of BEL's optics mfg facility
PTI Andhra Pradesh Chief Minister N Chandrababu Naidu and Union Information and Broadcasting Minister M Venkaiah Naidu on Monday laid the foundation stone for the long-delayed Bharat Electronics Limited's new optics manufacturing facility at Nimmaluru village near here. BEL, which has a similar facility in Machilipatnam town, wanted another 50-acre site for expansion of its activity and made a request to the state government way back in 2008. After clearing several hurdles, the state government finally allotted the required land to BEL in April this year. This will be the largest night vision equipment manufacturing facility in the country. BEL will manufacture futuristic optical, night vision and soldier surveillance devices at a cost of Rs 300 crore ...
