Summit focusses on tourism, IT

By R. J. Rajendra Prasad

HYDERABAD, JAN. 12. The three-day Partnership Summit, organised by the Andhra Pradesh Government and the Confederation of Indian Industry, has focussed on investment opportunities in the State in the fields of tourism, information technology and development of infrastructure.

The manner in which the delegates gave a standing ovation to the Chief Minister, Mr. N. Chandrababu Naidu, at the concluding session, shows that the big names in Indian business approve the direction in which Andhra Pradesh has chosen to develop its economy.

Both the incumbent Director-General of the World Trade Organisation, Mr. Mike Moore and Mr. Supachai Panitchpakdi, who will succeed Mr. Moore, attended the summit. Mr. Panitchpakdi is the Deputy Prime Minister of Thailand. There were widespread protests at Mr. Moore's visit when Left activists burnt WTO effigies, targeting it for being responsible for the plight of farmers.

Both Mr. Moore and Mr. Panitchpakdi spoke of the need to balance the conflicting interests of countries with different economies in order to develop world trade.

A total of 70 Memoranda of Understanding (MoUs) were signed by the State Government during the summit, the most massive one being an MoU for establishing an liquid nitrogen gas terminal at Kakinada by a consortium of Indian oil and a Malaysian firm, Petronas.

Mr. N. R. Narayana Murthy signed an MoU to enable Infosys Technology establish a software development campus near the Indian School of Business at Hyderabad, with an investment of Rs. 80 crores in the first phase, in which 1,200 software professionals would work.

Mr. Naidu cited this MoU as a ``testimony to the quality and depth of IT talent in AP''.

Also, Kudremukh Iron Ore Company signed an MoU for exploration of low grade iron ore deposits in Ongole, with a 25 to 35 per cent iron content in run-off-mine.

This deposit is estimated to be about 26 million tonnes.

The conference delegates included Mr. Shimon Peres of Israel, Mr. Stephen Byers, British Secretary of Treasury, Mr. Jim McDermott, Co-chairman of the U.S. Congressional Caucus on India and Mr. Carrie Yau, Secretary, IT, Hong Kong.

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Section  : Southern States
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