The Global Investors Summit being held in Visakhapatnam witnessed a huge delegate inflow, including industry giants like Reliance Industries chairman and managing director Mukesh Ambani, Adani Ports and SEZ CEO Karan Adani, Jindal Power & Steel chairman Naveen Jindal, Apollo Hospitals vice-chairperson Preetha Reddy, Bharat Biotech chairman Dr. Krishna Ella, Shree Cement chairman Hari Mohan Bangur, GMR Group chairman GM Rao, Dalmia Bharat Group MD Puneet Dalmia, Renew Power CMD Sumant Sinha attended the day 1 of the summit. The top honchos of Global Inc., such as Tesla co-founder Martin Eberhard, Kia India chief administrative officer Kab Dong Lee, Toray Industries India Ltd. MD Masahiro Yamaguchi, and Knauf CEO Sumit Bidani, were also present on the first day of the global investor's summit.

Chief Minister YS Jagan Mohan Reddy stated that 340 proposals worth Rs 13 lakh crore in investments from across 20 different sectors were received, these would create six lakh jobs in the state. Total proposals on day 1 stood at 340, of which 92 memoranda of understanding (MoUs) worth Rs 11.9 lakh crore with 64 companies were signed yesterday, and the remaining 248 MoUs worth Rs 1.1 lakh crore will be signed today.

The key projects bagged by AP at the summit include a 10 GW green energy plant by Reliance Industries; this 10-gigawatt renewable solar energy project in AP will create 50,000 job opportunities, said Mukesh Ambani; and two cement plants by the Adani Group; a 15000 MW renewable energy plant in AP; and the expansion of their ports in Gangavaram and Krishnapatnam to handle twice the current volume. Cement plants by Jindal and Shree Cements.

The NASDAQ-listed renewable energy company ReNew came forward with a Rs 97,500 crore investment to set up green energy projects in the state. "Andhra Pradesh will be ReNew's largest investment in a single state," CEO Sumanth Sinha said. "We're putting money into green hydrogen, solar panel manufacturing, and supply chain." Indosol and Greenko, two other renewable energy companies, announced investments of Rs 76,033 crore and Rs 47,500 crore, respectively.

GMR Group plans to invest Rs 5,000 crore in the first phase of Bhogapuram Airport development, GMR Group Chairman GM Rao announced that the airport would initially serve six million passengers and would eventually serve 40 million passengers annually. It will have cutting-edge cargo facilities to support exports. Around the airport, a metropolis and airport city will be built, with an industrial zone, an airspace zone, and education and healthcare zones.

Other well-known names in India Inc., such as the Aurobindo Group and Jindal Steel and Power, have announced investments in the state totaling Rs 10,000 crore each. "A 3 million metric tonne steel plant will be built in Krishnapatnam with a Rs 10,000 crore investment," said JSPL chairman Naveen Jindal. "The plant will employ 10,000 people in the state."

The centre has given the green signal to the six-lane road from Vizag to Bhogapuram Airport. This 56-kilometer road will cost approximately 6,000 crores, Union Minister of Road Transport and Highways, Nitin Gadkari, stated that the centre has approved a six-lane road connecting Visakhapatnam to the upcoming greenfield international airport at Bhogapuram.

Jagan invited the gathering of industrialists to actively invest in the state, positioning AP as the only state in the country to achieve double-digit growth of 11.43% in 2021-22. With its 974-kilometer-long coastline, the country's second-longest, six existing ports, and four upcoming ports, AP is India's gateway to the southeast, said CM Jagan.

CM also assured the industrialists that the state government was only a phone call away if they needed anything. "We would like to communicate to the domestic and international community that you are important to us through this summit," he said. He explained that they have chosen four pillars for the overall development of the country: greenification, decarbonization, industrial and logistics infrastructure development, digitalization, and entrepreneurship.