Visakhapatnam (Andhra Pradesh) [India], November 11 (ANI): Visakhapatnam MP Sribharat Mathukumilli stated that Andhra Pradesh is focusing on “quality over quantity”, targeting fresh investment agreements prioritising project execution and quality capital commitments over sheer numbers, at the 31st Confederation of Indian Industry (CII) Industrial Summit.
“It is quality over quantity. It is not open for all; it is only for those who register. We primarily want serious participants, entrepreneurs, journalists, government officials, anybody who's interested in the growth of India and Andhra Pradesh and those who would like to partner with India as their growth journey to be a part of this event,” he told ANI ahead of the event.
Andhra Pradesh anticipates investment pacts valued between Rs 10 lakh crore and Rs 11 lakh crore during the Summit in Visakhapatnam.
The two-day global economic forum is jointly organised by the Ministry of Commerce and Industry, Government of India, the Government of Andhra Pradesh, and the Confederation of Indian Industry.
Centred on the theme “Navigating Change: Technology, Trust and Trade – Leading the Way in a New World Order”, the summit features Union Minister for Home Affairs and Cooperation Amit Shah addressing the inaugural session on November 12, while Union Minister for Commerce and Industry Piyush Goyal chairs the summit deliberations.
Speaking to ANI, Mathukumilli said, “Building on the experiences from last time we had about Rs 13 lakh crores worth of MoUs signed and we express very clearly that the summit is not just about MoUs. It is about translating these projects into reality.”
He noted that out of Rs 23 lakh crore in expressions of interest recorded over the past two years, projects worth Rs 17 lakh crore secured state cabinet clearance, with several ventures already commencing operations on the ground.
Mathukumilli explained that the summit intentionally features fewer total projects because smaller enterprises concluded pacts in earlier regional sessions.
“In the summit that is happening tomorrow, we are expecting another Rs 10 to 11 lakh crores worth of MoUs being signed, but the number of projects are actually lesser because this time what we've done differently is we've done 5 regional summits before the main partnership summit. Idea being that smaller local companies, MSMEs, 1 or 2 marquee local companies do the MoUs in those regional summits which will give us more time in this summit to spend on discussion,” he said.
The event features business-to-business meeting lounges alongside multiple halls designed to foster policy discourse and trade negotiations among international stakeholders.
“You will see that we have now 16 international ministers coming for the trade minister meeting. We have representatives from 58 countries coming here. And we have multiple sessions which are about the current state of affairs in the world, whether it be the geopolitical changes you have seen, whether it be elections, riots, wars, how it has disrupted global trade, tariffs, and how companies are adapting to that,” Mathukumilli added.
The MP confirmed that over 3,500 registered delegates attend the proceedings, which emphasise structural dialogue on navigating global headwinds. (ANI)
Andhra Pradesh targets “quality over quantity” investment commitments at CII Summit, says Visakhapatnam MP Sribharat Mathukumilli
