TIRUPATI: The Tirupati Regional Conference organised as part of the 31st Confederation of Indian Industry (CII) Partnership Summit has attracted investment proposals worth Rs 11,731.68 crore through 67 memoranda of understanding (MoUs), with the potential to generate 20,879 jobs across five districts of Andhra Pradesh.
The conference, held at the auditorium of Krea University in Sri City on Monday, marked the conclusion of five regional investment conferences organised by the State government to promote industrial development and employment generation. The MoUs cover Tirupati, Chittoor, Annamayya, YSR Kadapa and SPSR Nellore districts.
Of the total proposals, 50 projects involving investments of Rs 7,380.68 crore are expected to generate 16,612 jobs. As many as 18 of these projects are proposed to be established in Sri City, further strengthening its position as a major industrial hub.
Tourism and hospitality emerged as the leading sectors in terms of the number of agreements, with 22 MoUs proposing investments of Rs 1,538 crore and 2,812 jobs.
Electronics and semiconductors attracted six agreements involving Rs 2,105 crore and 4,540 jobs, while five MoUs in the automobile components and electric mobility sectors proposed investments of Rs 1,600 crore and 2,250 jobs.
The footwear manufacturing sector attracted proposals worth Rs 700 crore, with the potential to create 3,000 jobs. Food processing accounted for nine MoUs involving Rs 1,096 crore and 2,130 jobs. Pharmaceuticals, renewable energy, recycling, logistics and information technology were among the other sectors identified for investment.
Special Chief Secretary for Youth Advancement, Tourism and Culture S S Rawat said the regional conferences were aimed at extending industrial investments in the State by leveraging local resources and business opportunities. He said the government was working to strengthen MSMEs and connect local entrepreneurs with large industries to expand employment opportunities.
