Union Minister Lays Foundation Stone for IIFT and IIP in Andhra Pradesh

The foundation stone for Indian Institute of Foreign Trade (IIFT) Andhra Pradesh and Indian Institute of Packaging (IIP) Kakinada (AP) was laid on Sunday, February 25, 2018, by Union Minister of Commerce and Industry, Mr. Suresh Prabhu. The minister was in Andhra Pradesh to attend the CII Summit. Chief Minister of Andhra Pradesh and other top officials were also present at the event.

IIFT and IIP in Andhra Pradesh will have advanced campuses with latest infrastructural facilities. The campuses will be built on 25 acres of land allocated by the state government in GMR SEZ (Special Economic Zone).

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The proposal to set up IIFT in Visakhapatnam was made in the year 2013. The detailed proposal to set up the premier institutes was forwarded to the central government in October 2015. According to sources, the IIP campus is expected to be ready in three to five years. The premier institute will focus on export marketing and training. More details about the IIFT Visakhapatnam will be out soon.

During the CII Summit, the state government of Andhra Pradesh signed 364 MoUs (Memorandums of Understanding). Through these MoUs, various companies will invest Rs. 2,18,814 crore in different domains and create 3,84,662 jobs. Among the 364 MoUs, 22 were signed in IT, Electronics and Industries sector, 25 in Health sector, 169 in Food Processing and 34 in the Energy sector.

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As a part of CII Summit, a plenary session was organised on ‘Technologies for Tomorrow’. Addressing the plenary session, CM of Andhra Pradesh, Mr. Chandrababu Naidu assured that the state government would develop ‘Innovation Valley’ on the lines of the Silicon Valley (US).