The U.S. - India Business Council and the Atlantic Council’s South Asia Center held an exclusive business roundtable discussion in Washington DC with Chief Minister of Andhra Pradesh, YS Jagan Mohan Reddy, on Friday.
This exclusive business round-table in collaboration with Georgetown University focused on opportunities to strengthen connectivity between United States and Andhra Pradesh and laid the foundation for investment and trade opportunities between Andhra Pradesh and United States
Rob Schroder, Senior Vice President, International Affairs, US Chamber of Commerce was upbeat on Andhra Pradesh’s promise of rapid economic growth and appreciated Chief Minister Jagan Mohan Reddy’s impressive mandate for unlocking the expansive growth potential of Andhra Pradesh. With a strong mandate from the people of Andhra Pradesh, Chief Minister Jagan Mohan Reddy will have an opportunity to usher in a era of inclusive growth, rapid development and strategic leadership for Andhra Pradesh.
750 U.S companies operate in India, creating jobs and giving back to local communities with Indian companies operating in 50 U.S States expanding exports by USD 1.5 billion. U.S companies exported nearly USD 50 billion in goods and services to India, while Indian companies exported USD 77 billion, pegging bilateral trade to an all-time high of USD 126 billion.
Speaking at the business roundtable, YS Jagan complimented the USIBC for working with the Government of India to identify the ‘5 big ideas’ that will catalyze the US-India Economic Partnership and welcomed the USIBC to work with Government of Andhra Pradesh to also identify ‘5 big ideas’ to catalyze the US - Andhra Pradesh Economic Partnership.
Andhra Pradesh is poised to catalyze investments, capital and partnerships owing to robust infrastructure for connectivity, enabling policies, integration with global value chains, shifting demographic dividend and a ready workforce, the AP Chief Minister added.
YS Jagan remarked that the Government of Andhra Pradesh and USIBC can prepare a road map to achieve investment and trade targets especially in the areas of agriculture and food security, healthcare, education, infrastructure and manufacturing. The Chief Minister also welcomed U.S companies to expand meaningfully their Corporate Social Responsibility (CSR) activities in India.
The Chief Minister presented his comprehensive governance and development model, built on nine assurances called ‘Navaratnalu’ namely support to farmers (Rythu Bharosa), irrigation development (Jalayagnam), incentives to mother for child education (Amma Vodi), scholarship for higher education, women empowerment (YSR Asara/YSR Cheyutha), social safety net through pensions (Pension lampu), housing for poor (Pedal Andariki Illu), quality healthcare for all (Aarogyasri) and ban on sale and consumption of liquor in a phased manner.
The Chief Minister is also committed to strengthen the human, physical, natural and financial resources, though the launch of several programs based on a four pronged approach towards transformational governance.
- Driving economic growth
- Investment in the future and human potential
- Creating a social safety net for its people
- Transforming governance
Speaking to global investors, YS Jagan Mohan Reddy laid emphasis on the delivery of corruption free governance, bringing transparency in procurement and contract management and providing investor friendly experience through one-stop hand-holding of investors across the implementation life-cycle.
Speaking on the occasion, the Chief Minister said that he understands understand the needs and sentiments of businesses and assured that highest transparency will be accorded. The Chief Minister said that trust is an important factor and industry will thrive if transparency measures are implemented.
The Chief Minister said that agriculture sector is cross-subsidized and the government will implement self sustainable models to ensure governance and growth for all.
Dr. PV Ramesh, Chief Executive Officer, Investment Promotion and Monitoring Authority said that “the Chief Minister of Andhra Pradesh has met with over 2.2 billion people to identify and prioritize the SDGs relevant to Andhra Pradesh”.
“Chief Minister’s emphasis is on delivery of corruption free governance,bringing transparency in procurement and contract management and providing investor friendly experience through one-stop handholding of investors across the implementation lifecycle. The APEDB will have more powers, responsibilities and accountability as IPMA (Investment Promotion and Monitoring Authority)”. Dr. Ramesh added.
Ambassador Harsh Vardhan Shringla mentioned that the Chief Minister’s decisive victory is a landmark events and will support India’s rise into a USD 5 trillion economy”
Irfan Nooruddin, Director of the South Asia Center at the Atlantic Council said that “the council would help Andhra Pradesh to engage closely with the private sector on building climate resilience”.
The Chief Minister renewed focus on the economy includes Improving productivity, bringing value addition & innovation in agriculture sector, doubling the manufacturing gva, enhancing trade through strong infrastructure – ports, airports and industrial corridors, providing universal health care, ensuring education for all, building a pool of skilled workforce, decentralized people centric governance - village secretariat and volunteers, building a transparent government procurement system, and facilitating low cost of doing business.