AMN / WEB DESK
Union Minister Sarbananda Sonowal made a strong pitch for the India Growth Story at the Andhra Pradesh Global Investor Summit in Visakhapatnam on Saturday.
Delivering the keynote address at the valedictory session of the Global Investor Summit, the Union Shipping Minister stressed the innovative schemes laid out by the Narendra Modi Government in order to propel growth in manufacturing.
Sonowal stressed on the innovative schemes laid out by the Government in order to propel growth in the manufacturing sector. Delivering the Keynote address at the Valedictory session of Global Investors Summit in Visakhapatnam, Andhra Pradesh, the Union Minister said that it is due to the innate ability of the Indian economy to withstand global economic challenges that it remains one of the brightest spots of growth and development in the world.
The Union Minister also said, the government’s vision is to ensure inclusive development and growth by developing our ports, railways and highways to enhance supply chain and reduce logistics costs. Stating that the Multi-Modal Transport System is the future of every city, he said, Andhra Pradesh and the coastal regions of India will move ahead in this race for development with a new momentum.
Echoing the optimistic outlook of the Indian economy, Sabananda Sonowal further said that India has been continuing to open up its sectors to global investors by raising the investment limits, removing regulatory barriers, developing infrastructure, and improving the business environment. He said, despite the Russia-Ukraine war, US monetary policy, global recession and other global uncertainties, the Indian economy remained healthy.
More than 110 projects worth around Rs 1.1 lakh crore have been identified in Andhra Pradesh under Sagarmala, even as 35 works worth Rs 32,000 crore have already been completed,said the minister.
According to the Minister, Visakhapatnam Port has exhibited a healthy cargo growth of over 7.5 per cent in 202223.
“Following directions from the Ministry, the port is in the process of transforming as a landlord port. Other ports also may comply by 2023,” said the Shipping Minister.