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The Andhra Pradesh government Tuesday said more investments would flow in the state in coming months following the fourth Pravasi Bharatiya Divas that concluded here Monday.
J. Geeta Reddy, minister for tourism and major industries, said Andhra Pradesh had managed to showcase immense investment opportunities available in the state and 250 delegates of the three-day meet showed keen interest in investing in tourism, biotechnology, pharmaceuticals, real estate, infrastructure and irrigation.
"We can't expect results overnight. But a beginning was made and we hope investment will flow in the months to come," the minister told.
She, however, added: "Investment was not the objective of this diaspora meet. It was aimed at reconnecting them to their Indian roots and recognising their achievements."
Reddy told reporters that the event was a huge success for the state, as about 50 percent of the 1140 overseas delegates at the conclave were Telugu.
P. Lakshmaiah, minister for major irrigation, added that some of them evinced interest in setting up five-star hotels and resorts.
He pointed out that one Veda Reddy, who runs a restaurant in New Jersey, planned to invest Rs.50 million ($1.1 million) to set up a resort in Adilabad. Sri Shiva, president of the Indo-American Finances from New York, proposed to set up a textile mill in Guntur district with an investment of Rs.2 billion.
G. Gurucharan, joint secretary, ministry of overseas Indian affairs, said that the state benefited by signing a memorandum of understanding with the American Association of Physicians of Indian origin (AAPI) for cooperation in healthcare.