Andhra Pradesh is hosting the first-ever CEO-Ministerial Dialogue under the World Economic Forum-Moving India Network in order to attract $4 billion in investment in the EV segment.
On Friday, Andhra Pradesh will host a day-long CEO-Ministerial Dialogue as part of the World Economic Forum-Moving India Network.
The state will frame policy in this dialogue by soliciting views and ideas from various stakeholders involved in the process.
On Friday, Andhra Pradesh will host a day-long CEO-Ministerial Dialogue meeting as part of the World Economic Forum-Moving India Network, taking the first step toward becoming the country’s “lighthouse state.”
The state will frame policy during this one-day dialogue by soliciting views and ideas from various stakeholders involved in the process, according to PTI. The ultimate goal of the state government is to attract investors who will invest approximately four billion dollars in the electric vehicle segment over the next four years.
According to Andhra Pradesh Industries and Investment Minister Gudivada Amarnath, this is the state’s first such initiative under the World Economic Forum-Moving India Network to improve EV industry infrastructure.
“This dialogue (in virtual mode) will serve as a high-level platform to explore various avenues of investment in the Electric Vehicles (EV) segment, as well as to support industry leaders in developing and implementing plans and programs to meet climate goals, such as net-zero economic growth and green mobility,” Amarnath explained.
He also discussed the state government’s plans to expand the EV landscape in Andhra Pradesh by catalyzing the transition to cleaner fuel by accelerating EV adoption.
“The primary goal of this exercise is to position AP as a lighthouse state and attract four billion USD in investments. Our transition to e-mobility could be a critical component in India’s efforts to achieve carbon neutrality “said the minister.
Later, he shared the state government’s vision of making Andhra Pradesh a leading center for the development and manufacturing of solar batteries, EV components, and fuel cell EVs. Along with this, he focused on the government’s plan to diversify into alternative energy production, such as the generation and storage of hydrogen fuels. It would be easier for state market players to access these products and sell them to the people at a reasonable price if the state had a strong EV manufacturing industry.
Along with focusing on creating a favorable environment for the EV manufacturing industry, the Andhra government is also concerned with existing EV users. It announced a plan last year to build nearly 1 lakh EV charging stations over the next ten years.
According to media reports, Industries Minister Amarnath, Principal Secretary of Transport MT Krishna Babu, Special Chief Secretary of Energy K Vijayanand, NITI Ayog Advisor of Infrastructure Connectivity, Transport, and Mobility Sudhendu J Sinha, CEO APEDB and VC Subramanyam Javvadi, Director of Industries Srijana Gummala, WEF Moving India team CEO, and others will attend the virtual meeting.