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Showing posts with the label investment in AP

Andhra Pradesh CM rolls out red carpet to Franklin Templeton

The global investment firm sets sights on Vizag Franklin Templeton has plans to launch its operations in Visakhapatnam in case the State government provides land facing the seashore. Franklin Templeton President and COO Jennifer Johnson informed this to Chief Minister N. Chandrababu Naidu, who called on her in California on Tuesday. She also enquired about the availability of high-end talent in AP, telecom carrier capacity, broadband connectivity and cloud infrastructure, etc. Mr. Naidu assured her that the State government would provide land, water and power etc. to start a campus. The government was providing fiber connectivity to every house. To provide Internet services to the remotest villages, the government was working with Google X. An ecosystem was being developed in Visakhapatnam for Fintech, data analytics and processing, he said. As far as manpower was concerned, Mr. Naidu said Franklin Templeton need not have any apprehensions. Out of every four IT professi

Xiaomi Unveils Second Manufacturing Unit in India in Partnership With Foxconn

Reaffirming its commitment to 'Make in India' after logging $1 billion in revenue in the country last year, Chinese smartphone maker Xiaomi on Monday announced its second manufacturing unit in partnership with Taiwanese electronics major Foxconn in Andhra Pradesh. With the new manufacturing plant also at Sri City, in Andhra Pradesh, more than 95 percent of Xiaomi's smartphones sold in India will be manufactured in the country. Xiaomi will now have a combined production capacity of one phone per second during operational hours. "We are present in 20 markets globally but India tops in terms of volume and is also the fastest growing market for us. All eyes are on this market and we will continue to do what we are doing and provide great after sales service and experience for our users," Manu Jain, Vice President and Managing Director, Xiaomi India, told IANS. The company also launched Rs 5,999 Redmi 4A smartphone powered by Qualcomm Snapdragon 425 proc

Naidu lays foundation for VEM Aerocity in West Godavari district

20 more small units will come up in the vicinity, he says Chief Minister N. Chandrababu Naidu on Saturday laid foundation stone for the construction of the defence spare parts manufacturing company, VEM Aerocity, at Vatluru in Pedapadu mandal in West Godavari district. He went round the photo exhibition arranged by the VEM company executives and interacted with the students. A Skill Development Centre had been proposed in the company to provide training for the youth. Job generation Addressing a meeting later, Mr. Naidu said the government had sanctioned 350 acres for the project, which could generate about 7,500 jobs once the construction of the company was completed. The Government of India listed the VEM Aerocity under A-Category and 20 more small units would come up in the vicinity, he said. Stressing that the government was giving priority for setting up industries and industrial corridors, the Chief Minister said jobs cannot be created without industries and

How to start an industry in Andhra Pradesh

Preparation of Project Report : For the line of activity chosen by the Entrepreneur, a Technically feasible Economically viable Industrial Project Profile/Report is to be prepared . The Entrepreneur may seek the assistance from State Govt. agencies like DIC, APSFC; Central Govt. agencies like MSME-Development Institute (Formerly Small Industries Service Institute-SISI), NSIC etc. Finance : The Entrepreneur may preferably obtain the consent of a financing agency such as APSFC or any Commercial Bank for the required loan amount. Registration : To set up a Micro/Small / Medium Enterprise, the Entrepreneur has to file Entrepreneur’s Memorandum Part -I (online at with concerned District Industries Centre of the District & obtain Acknowledgement. To set up a Large Enterprise ; the Entrepreneur has to file Industrial Entrepreneur’s Memorandum Part -A with Secretariat for Industrial Assistance, Department of Industrial Polic

New Delhi: Govt notifies tax rebate for 7 districts in Andhra Pradesh

Government today said it is extending tax incentives for seven districts in Andhra Pradesh to boost industrial activity. Government today said it is extending tax incentives for seven districts in Andhra Pradesh to boost industrial activity. The incentives have been extended for four districts of Rayalseema and three districts of North coastal region of the state under the Andhra Pradesh Re-organisation Act, 2014. “To further boost the industrial activities, the Central Board of Direct Taxes (CBDT) has notified these seven districts for availing tax incentives under section 32(1)(iia) and section 32AD of the Income-tax Act. “Accordingly, any manufacturing undertaking set up during the period from April 1, 2015 to March 31, 2020 in these districts of Andhra Pradesh is eligible for 15 per cent of higher additional depreciation and 15 per cent of investment allowance on the cost of plant and machinery acquired by it during the said period,” the Finance Ministry said in a stat

Andhra Pradesh CM gets positive signals from U.K. companies

Chief Minister N. Chandrababu Naidu met London Stock Exchange CEO Nikhil Rathi during his visit to London on first day. The Chief Minister held a discussion on financial district and development of world-class infrastructure in Amaravati with its representatives. Mr. Rathi informed Mr. Naidu that more than 500 companies with a total market capitalisation of $ 2 trillion were listed on the LSE. Mr. Rathi offered to work with the State government to help raise funds for Amaravati. During a meeting with representatives from Canary Wharf, the Chief Minister invited them to be partners in the development of Amaravati. Canary Wharf, being a major business district in the United Kingdom, he asked the delegation to adopt best practices to make Amaravati a hub of bustling financial activity. Later, the Chief Minister and his team participated in a presentation on UK smart city expertise. Greater London Authority, RICS, Aecom, Benoy, Arup, Mott MacDonald, Mace, Gleeds, Catapult, S

Seven industries to come up in Vizianagaram dist.

Collector M.M. Nayak has said that seven industrialists, who have participated in the recently held Partnership Summit in Visakhapatnam, are ready to invest Rs. 12,032 crore and they have signed Memorandum of Understandings with the government for setting up units in the district. The industries when established would provide employment to 11,700 people. He said that Steel Exchange India Limited would invest Rs. 7,937crore, Sri Ananda Subbaraya Wire Products (P) Limited Rs. 105crore, Sarada Metals and Alloys Rs. 1500 crore, Kothavalasa Infra Ventures Private Limited Rs. 2,000 crore, Divis Laboratories Rs. 250crore, Nellore NCS Sugars Limited Rs. 120 crore, Ellamanchili Infrastructure Limited Rs. 120crore, according to a release.

Naidu makes strong pitch for investment in AP

Anil Ambani announces Rs. 5000 cr for defence manufacturing facility at Andhra Pradesh during the three-day summit. The 22nd edition of Confederate of Indian Industry or CII Partnership Summit, kicks off in Visakhapatnam and has been organised to showcase investment opportunities in ‘Sunrise Andhra Pradesh’. The three-day event is expected to see signing of over 100 MoUs. Union Finance Minister Arun Jaitley, Andhra Pradesh Chief Minister Chandrababu Naidu and several other union ministers such as P. Ashok Gajapati Raju, Nirmala Sitharaman and Y.S. Choudhary are present at the event. The summit will see signing of MoUs envisaging an investment of Rs.2 lakh crore. Latest updates: >> Finance Minister Arun Jaitley says, "After Start Up India, we are going to launch a new programme called Stand Up India. Stand Up India is available to only two sections of society- women entrepreneurs and the SC,ST entrepreneurs." "Every public sector and priv