Andhra trade summit sees Rs6.83 l crore pre-commitments

In an indication that the second edition of the CII Partnership Summit in Andhra Pradesh, beginning in Visakhapatanam today, would turn out to be a major windfall for the state, companies had sent proposals entailing a total investment intent of around Rs6.83 lakh crore by Thursday evening.

''For this year's CII Summit, as many as 425 companies have sent proposals to invest around Rs6.18 lakh crore in the state,'' state HRD Minister Ganta Srinivasa Rao said.  The government has received new investment proposals in industry, infrastructure, capital region, urban development, energy, tourism and IT sectors, he explained.

Union Finance Minister Arun Jaitley will inaugurate the event. Union Commerce and Industries minister Nirmala Sitharaman, among six Central ministers, CEOs representing around 100 global companies including Reliance, Walmart, Aditya Birla Group, Bharat Forge, Essar, Mitsubishi Suzlon, Apollo Hospitals, Fortis are expected to attend the summit.