CII to hold global financial meet in AP

The Confederation of Indian Industry (CII), which had to shift the venue of its partnership summit from Hyderabad to Chennai in the light of the ongoing agitations for a separate statehood to the Telangana region and a united Andhra, is planning to hold a ‘Global Financial Meet’ in Andhra Pradesh in March, this year.

A decision to this effect is learnt to have been taken by the CII at the insistence of state chief minister, K Rosaiah. Unhappy over the change in venue, Rosaiah met the top brass of the industry body and asked them to hold another major event in the state in the near future, sources close to the development said.

CII, which continued its close ties with the AP government right from the days of chiefministership of N Chandrababu Naidu, has agreed to Rosaiah’s request and is now actively considering holding a global financial meet in Hyderabad.

According to CII AP region chairman Y Harish Chandra Prasad, the details of the proposed financial meet are yet to be finalised. “This time, we would like to focus more on financial and manufacturing sectors than information technology as Hyderabad has a financial district and the city needs more manufacturing facilities to sustain its growth in future,” he told Business Standard.

Industry sources said the shifting of the 16th edition of the partnership summit, planned to be held in Hyderabad after a gap of six years, had been a major loss to the state capital. “A number of MoUs had been lined up to be signed, especially with the Malaysian delegates, which has been now cancelled,” they said.

Delegates from 22 countries, and heads of Malaysia, Maldives and Uganda were stated have participated in the CII flagship programme held in Chennai.