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SoftBank to invest in electric vehicles in Andhra Pradesh

Earlier, the Minister explained to the representatives, the developmental activities and favourable conditions for investments in the State. 

Published: 17th September 2019 05:41 AM  |   Last Updated: 17th September 2019 05:41 AM   |  A+A-

SoftBank Corporation (File photo | Reuters)

By Express News Service

VIJAYAWADA: Japanese giant SoftBank, showed interest in investing in Andhra Pradesh as a delegation of SoftBank, which called on Industries and IT Minister Mekapati Goutham Reddy at a diplomatic outreach programme held in Hyderabad on Monday, expressed willingness to invest in electric vehicles.

Impressed with the favourable conditions in the State for investors and the policies and steps being taken by the government, representatives of SoftBank expressed interest in working together with the government for the development of the State and expressed their desire to invest in electric vehicles.

After the Minister requested them to come up with all the details for the next meeting, within a fortnight and said that he would take the proposals to the notice of Chief Minister YS Jagan Mohan Reddy, the delegation expressed willingness.

Earlier, the Minister explained to the representatives, the developmental activities and favourable conditions for investments in the State.  He said that the Chief Minister is giving priority to welfare and industrial growth in the State. He also said that the government would come up with a new industrial policy to promote industrial growth by next year.

The Minister explained to the delegation about the new initiatives of the government like providing 75 per cent reservations to locals in industries and establishing skill development centres to provide free training to unemployed youth. As part of the business outreach, the Minister organised a series of meetings with representatives of various organisations including the Federation of Indian Chambers of Commerce and Industry (FICCI), Vishnu Group vice-chairman Ravi Chandran and representatives of Deloitte, Johnson & Johnson and other PR Agencies.

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