AP mulls to set up big auto hub on east coast: Prabhu

Commerce and Industry Minister Suresh Prabhu today said the Andhra Pradesh government has decided to work on his suggestion on making a big auto hub on the east coast.

"The state has responded positively and the state authorities have decided to take the next step forward in this direction. So, I am sure that in the next few years' time, India will drive cars made in Andhra Pradesh," he said here at the CII s Partnership Summit.

He said that an MoU was exchanged between Automotive Component Manufacturers Association of India, Society of Indian Automobile Manufactures and Andhra Pradesh Economic Development Board to develop the automotive industry in the state.

Prabhu also informed that the ministry is also working on sectors like gems and jewellery and agriculture to promote exports.

Export promotion council for gems and jewellery is identifying areas in which they will set up jewellery making only for exports.

Speaking at the occasion, DIPP Secretary Ramesh Abhishek said that industrial revolution 4.0 is changing the land scape of manufacturing.

He informed that FDI in the country is growing at a rapid pace and India has received "USD 208 billion" foreign inflows since April 2014 because of rapid reforms and ease of doing business.

"India offers huge opportunities for both domestic and foreign investors," he added.

At the summit, foundation stone ceremony was held for the Lulu International Convention Centre, hotel and mall. It will be constructed by UAE based Lulu Group with an investment of over Rs 2,000 crore.

Chairman of Lulu Group, MA Yusuff Ali said that the company will try to complete the project in 36 months and it would create a direct employment to about 5,000 people.

But, Andhra Pradesh Chief Minister N Chandrababu Naidu urged him to complete the project in 30 months.

An MoU was also inked between the state government and Google India under which 25,000 wifi spots would be set up to provide internet services in about 13,000 villages, according to CII.

Naidu asked to complete the project by end of the year.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)