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In the state of Andhra Pradesh, South Korea has come forward to invest INR 4,000 Crore. About 37 companies have shown their interest to invest in the state and generate 7,000 jobs. This proposal officially presumed to take a shape by March 2018. According to the CMO South Korea Consul-General, Kim Hyung, met the Chief Minister Naidu and discussed upon various facets, and are looking to strengthen the financial and cultural ties with the state. It has also been reported that the companies are looking forward to establishing their firms in the upcoming Korean city in the state. The Chief Minister Naidu assured the officials of South Korea that Andhra Pradesh is served with favorable conditions to do business and any potential problems that might arise over the due course of time will be immediately dealt with. 

In the few days ago it was reported that Andhra Pradesh is likely to grab a 'South Korean City' in the state's capital Amaravati or elsewhere in the state. The South Korean commission had proposed to bring in at least 30 companies in the sectors of logistics, electric steel, automobile components, liquors, marine equipment, medical, and many more to Andhra Pradesh.
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The State Investment Promotion Board (SIPB) leaded by Chief Minister N. Chandrababu Naidu on Tuesday has cleared six investment proposals worth of INR 3,808 Crores. The companies whose proposals were cleared are Chettinad Cement Corporation Pvt. Ltd, KCP Ltd, Mohan Spintex India Ltd, Rain Group, Vishwaa Apparels and Indo Count Industries Ltd, according to a press statement from CM's office. The Chettinad Cement proposed for the investment of INR 1,350 Crores and to set up cement grinding units and cement manufacturing plants at Gytulapalem, Tallapalem, Pedagarlapadu village in Guntur district and at Narasapuram village in Visakahpatanam district. This project will start its commercial production from March 2019, and is expected to provide employment to 1,250 people.


And KCP Ltd with an investment of INR 531.61 Crores proposes to setup a cement manufacturing unit on 100 acres at Muktyala village in Krishna district. And estimated to create direct employment to about 100 people and indirect employment to 1,900. A total of 1,569 are being tracked by 17 departments with a committed investment of INR 16,87,845 Crores in Andhra Pradesh. Out of the total projects, 343 have gone into the production stage.
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A Renewable energy company 'Gamesa India' has inaugurated a manufacturing unit at Nellore, Andhra Pradesh. The company had invested around INR 300 Crores in the state. The Manufacturing unit was inaugurated by Chief Minister Chandrababu Naidu. This was the Company's largest manufacturing facility in India and which is one of the part of Gamesa's 100 million euro investment proposal for India as announced in 2014. The new manufacturing facility will engender the growth of several ancillary industries in the state. Presently, the plant employs nearly 500 personnel and will employ about 1,000 people in coming three years.

Ramesh Kymal (Chairman and Managing director Gamesa India) said that India accounts nearly 30% of sales for 'Gamesa Global', which makes the country a very promising market. The Nellore unit was the one of the largest manufacturing facility for the company in the world, Gamesa India will be integrated even more strongly to regale to the growing energy demands of the country. Jose Antonio Cortajarena (Chief corporate - general secretary, Gamesa) said achieving this milestone will clinch further expansion of clean energy footprint in India. Currently Gamesa is the India's leading wind turbine manufacturer with a total market share of 34%. It has commissioned wind power projects close to 3,500 Mw.
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There are various reasons for investing in India how could boost the Chinese capital's wallop in the Indian economy, a Chinese specialist says. Investing in India is an assured choice of capital, which essentially stalk profits, said Ge Cheng (Assistant Research Fellow at the National Institute of International Strategy of the Chinese Academy of Social Sciences). The spiral flows of Foreign Direct Investment (FDI) into India don't aim to make contributions to India, but instead are charm by the promising profit probability accredit by the economy's growth and an array of favorable policies, Ge Cheng have wrote in the Global Times. Based on the practical thoughts, India is simply seek to improve its investment environment and revise its rules and regulations.

Ge Cheng pointed out how the Indian Government had updated FDI rules, raising the foreign investment capital to 49% from 26%, except in state-owned banks and listed companies. The threshold limit for automatic approval has also been slacken to INR 500 billion ($7.4 billion) from INR 300 billion, Cheng said. 
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As Amid calls from some quarters for boycott of Chinese goods in ongoing Diwali season, China on Thursday said that any such actions will negatively impact the India-bound investments from its enterprises and also the bilateral co-operation between the both countries. China also contend that any such boycott have no much impact on its exports, but without proper substitutes, the biggest losers of the boycott of Chinese goods will be Indian traders and consumers. In a statement issued the Chinese embassy has said China is the world's largest trading nation in goods, with its exports amounted to $2,276.5 billion in 2015 . The exports to India accounted for only 2% of China's total exports and India's boycott of Chinese goods will not have much impact on China's exports. 

Moreover 60-70% of Indian API's for pharma industry are from China. China has played an crucial role in Indian pharmaceutical industry march to the European Union and America market. China also exported a lot of electronic and household products which are attractive both in price and quality. Chinese products not only lowered India's inflation rate, but also fulfilled Indian ordinary people, especially the low-income people's daily needs, greatly improved their life quality, the statement said.
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Andhra Pradesh is aims investments worth INR 20,000 crore in the tourism sector by 2029, main criteria is to position the state as a preferred destination. To attract visitors the state is planning towards creating tourist hubs namely Vizag, Srisailam, Rajahmundry, Kakinada, Vijayawada, Amaravati, Tirupati and Ananthapuram, Puttaparthi. An investment of INR 12,000 crore already tracked, development of a sturdy tourism infrastructure is what will give further fillip to the sector, said by Neerabh Kumar Prasad (AP Principal Secretary Tourism & Culture).
The state is also focusing to unlock further value through temple tourism and creation of a Buddhist Circuit to attract both domestic and international tourists. The state witnessed a jump in tourist footfalls from 93 million in 2014 to 122 million in 2015.


(Also Airtel expands 4G services to 40 towns in Andhra Pradesh & Telangana-Click here)

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 Hong Kong today said that it can do funding and development of infrastructure projects in India by appreciating the Modi government's "pro-growth" stance. PM Modi and  Leung has agreed to take India-Hong Kong cooperation to even higher levels. 

Modi is also said about the two day India Investment Summit, which will seek to attract global investments in sectors like railways, highways, power, ports and renewable energy. Modi expressed confidence that the trade between India and Hong Kong will continue to grow and added that he sees wealth of prospects, fresh opportunities. 

Leung said that economic strategies devised and pursued by PM Modi, opportunities are increasing because of the "pro-growth". On increasing cultural relations and and people to people ties, he said that they have forwarded a draft MoU on cultural cooperation to the Indian government, also looking forward to the signing as soon as possible. He added that education, technology and innovation are other areas where both the sides can enhance collaborations. 

Leund said "India is a world leader in IT and I know about their ambitious expansion plans for the sector, through the 'Make in India' programme,"  In 2014-15, the bilateral trade between India and hong Kong stood at $19.17 billion. India has received $1.57 billion as foreign direct investment from that country during April 2000 and September 2015. 
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The Odisha government on Tuesday approved seven big investment proposals worth Rs.41,900 crore including foreign direct investment (FDI) by a Japanese company. The High Level Clearance Authority (HLCA) chaired by Odisha Chief Minister Naveen Patnaik cleared seven investment proposals, which will provide direct employment to some 4,450 people.
The panel approved a proposal of JGreen Power Private Ltd for a 423 MW liquefied natural gas (LNG)-based power project at Dhamra in Bhadrak district. The Japanese company will set up the eco-friendly project with an investment of Rs.3,106 crore, said Odisha Industry Minister Debi Prasad Mishra.
Mahanadi Basin Power Ltd, a wholly owned subsidiary of Mahanadi Coalfields Ltd (MCL), has proposed a pit head 2X800 MW coal based thermal power plant at Basundhara in Sundargarh district at an investment of Rs.8,000 crore, said Mishra. The HLCA also approved the proposal of Tata Power Ltd for change of location from Naraj Marthapur in Cuttack district to Begunia in Khurdha district for a 1,320 MW coal based thermal power plant with an investment of Rs.7,500 crore.
CESC Ltd has proposed to enhance the capacity from 1,000 MW with super critical units at Neulapoi village in Dhenkanal district with an investment of Rs.6,861.84 crore, said the minister. The HLCA also approved three expansion proposals of Bhusan Power and Steel, Ardent Steel and Utkal Alumina.
While Bhusan Power and Steel proposed for expansion of steel making capacity from 2.80 million tonne per annum (mtpa) to 5.5 mtpa at Telkoi in Sambalpur district with an investment of Rs.4,837.60 crore, Utkal Alumina International Ltd has proposed for expansion of its refinery capacity from 1 mtpa to 1.5 mtpa at Doraguda in Rayagada district, said the minister.
It has also proposed for expansion of captive power plant from 50 MW to 90 MW. Utkal Alumina will invest Rs.7,563.70 crore for both projects. Ardent Steel Ltd will expand its existing iron ore pelletisation plant from 0.60 mtpa to 1.80 mtpa and addition of iron ore beneficiation plant of 3 mtpa and DRI plant of 0.60 mtpa in Keonjhar district.
Edited By: P.Satya Siva Anil
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