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NRI and Foreign Investment Sought by Andhra CM Wednesday, May 09, 2007
Successive governments in Andhra Pradesh have created favorable conditions for investment by multinationals and industrialists in the state. The incumbent Chief Minister, Y.S. Rajshekhara Reddy has embarked on a mission to the US to invite further investments to Andhra Pradesh. On a visit to St. Louis, the Chief Minister is meeting CEOs across industry, biotechnology experts and agricultural scientists to proffer investments in his state. The Chief Minister has also had several rounds of discussions with NRIs in the US on possible collaborations in modern agriculture, industries and IT in Andhra Pradesh. He has invited the NRIs to submit specific proposals, while committing to extend incentives, for new industries and projects in the state. Interesting proposals have been made, such as the use of Swiss grass in wetlands to produce ethanol. One of the organizations, an NGO based in the US, the Optimum Agricultural Solutions and amp; Irrigation Systems (OASIS) has offered to meet power needs from alternative and renewable sources of energy for agricultural purposes. The NGO is attuned to provide solutions to problems faced by farmers in developing countries. OASIS pools together possible resources and technology from other research institutes like the International Irrigation Institute, the UNDP and UNEP . The Danforth Plant Sciences Centre in St. Louis has also responded positively to the Chief Minister’s call for participation with Indian agricultural research institutions.
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