Visakhapatnam to host CII summit highlighting Andhra’s Business-Friendly edge

Ahead of the Confederation of Indian Industry (CII) Partnership Summit scheduled for November 14-15 in Visakhapatnam, Andhra Pradesh Chief Minister N. Chandrababu Naidu emphasized the state's ambition to become a global hub for Artificial Intelligence (AI). This vision aligns with the state's ongoing efforts to enhance its business environment and attract significant investments.

CM's strategic engagements at CII events

In previous CII events, CM Naidu has consistently highlighted the importance of fostering public-private partnerships to drive economic growth. At the CII Annual Business Summit in New Delhi, he introduced the concept of "P4" Public-Private-People Partnership advocating for collaborative efforts to reduce inequality and promote inclusive development. He emphasized that wealth creation precedes distribution and that industrial growth is a catalyst for social progress. Further, CM Naidu has underscored the need for speed in doing business, stating that Andhra Pradesh, while already ranked first in ease of doing business, is now focusing on accelerating the pace of business operations to attract global investors.

Google's $15 Billion investment: A Game Changer for AP

A significant milestone in this journey is Google's announcement of a $15 billion investment over the next five years to establish its first AI hub in India, located in Visakhapatnam. This investment, in collaboration with AdaniConneX and Airtel, will include a purpose-built data center campus with gigawatt-scale compute capacity, an international subsea cable gateway, and enhanced energy infrastructure.

The project is expected to generate approximately 188,000 jobs and positions Visakhapatnam as a key player in India's digital transformation. Google's CEO Sundar Pichai highlighted the potential of this hub to drive innovation and economic growth in India, while Prime Minister Narendra Modi praised the investment for democratizing technology and bolstering India's global tech leadership.

Impact on ease of doing business and investor confidence

The strategic initiatives and investments underscore Andhra Pradesh's commitment to creating a conducive environment for business and innovation. The state's focus on infrastructure development, coupled with its proactive engagement with industry leaders, has significantly enhanced its attractiveness as an investment destination. As the state prepares for the upcoming CII Partnership Summit, the successful implementation of these initiatives is expected to further solidify Andhra Pradesh's position as a leader in ease of doing business, attracting more global companies to invest and establish operations in the state.