Naidu said 665 memoranda of understand (MoUs) were signed at the summit as against 328 MoUs worth for Rs 4.67 lakh crore signed in January 2016.
Concluding the CII Partnership Summit in Visakhapatnam on Saturday evening, Naidu said India’s leading trade body Confederation of Indian Industry (CII) has agreed to collaborate with AP on the initiative.
While Manpasand Beverages proposed Rs 150 crore of investment, the Spanish renewable energy firm Windar Renewables agreed to invest Rs 130 crore.
Union Minister Nitin Gadkari said India was looking to promote port-based economy through CEZs, primarily targeting to achieve double digit growth.
The firms that has signed MoUs this time around include ONGC, GAIL, HPCL and REC.
Accelerated depreciation for local manufacturing companies should be continued. GST has to be zero, wind or solar doesn’t have any excise or customs duty.
The finance minister said India plans to deal with the global crisis by aggressively pushing its economic reforms to stay the world’s fastest growing major economy of the world.
The govt is apprehensive that the court directive could affect many of its prestigious industrial projects like airports, SEZs, open cast mining, and power generation stations.
The founders have stated in their petition that the proposed rights issue amounted to forcing the minority holders to buy shares, violating the terms of the shareholders agreement.
Experts predict the launch pipelines for generic players in the US will be impacted as drugs coming off patent may see a fall in the 2017-2020 period.
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