Andhra signs 77 MoUs on sidelines of CII Partnership Summit

On the sidelines of 'CII Partnership Summit' in Andhra Pradesh's Visakhapatnam, 77 Memoradums of Understanding (MoUs) were signed with the government of Andhra Pradesh. The MoUs are expected to raise investments worth Rs. 31,546 crore and 98,291 employment across the state. Meanwhile, Andhra Pradesh Industries and Food Processing Minister Amaranatha Reddy said that the state needs a 'special status.' The Minister also said that allocation of special status to the state would bring more investments in the state. CM Chandrababu Naidu, Vice President Venkaiah Naidu, CII President Shobana Kamineni and Union Minister Suresh Prabhu also spoke during the Partnership Summit. While speaking at the Summit, CM Naidu said that the state government's aim is to appear in World's Top 5 when it comes to 'Ease of Doing Business.' CM Naidu sought investments from both domestic and foreign investors in areas such as infrastructure and tourism. The summit is aimed to enunciate India's growing importance in enhancing the 'Global Economic Landscape' as well as its relative position in the new world economic order. The event aimed to provide opportunities to look at how both advanced and emerging economies can collaborate and build new bridges to foster balanced and equitable growth.