Live updates of Bizz Buzz Business Conclave
A two-day business conclave organised by The Hans Group and Bizz Buzz kick starts today in Visakhapatnam, the City of Destiny, is being organised by the management of the Hans group., which will witness an impressive representation from a cross-section of business sectors will provide valuable insights and perspectives on the business opportunities that exist in Andhra Pradesh. In a first of the series, the Hans Group has decided to hold a business conclave on April 22 and 23 at Visakhapatnam in association with the World Trade Centre (WTC), Visakhapatnam.
After the questionnaire session, Mementoes were presented to the speakers as a note of thanks.
Mr Sanjay shared about the journey and how AP can play a vital role in attracting investment and talent and serving the global needs of Sriharikota.
He said he started building satellites when he was 19 yrs old, and after 15 years of bachelor's, I am running India's first space technology startup. I encourage AP to bring in a framework where AP builds and launch student satellite.
In the next decade, 60K satellites are set to be launched. He requested AP to go one step forward and build an infrastructure that brings a lot of foreign companies and domestic startups under one roof. He urged to look at space as the vertical to grow your business.
Ms Poornima shared about her journey from 2005, when she was the President of India Semi Conductor Association. She said she checked the AP State Electronic Policy and three "S" stood out for her
S- Skills
S- Social Infrastrucre
S- Innovation and startups
She stressed on right trained manpower to make any business successful.
Mr Sanjeev shared about the Ministry of Electronics and IT report that the Electronic manufacturing market, which was at 120 billion dollars last year, will grow by 300 billion dollars by 2025. The ESDM will be going to 400 billion dollars by 2026.
It will be a prominent industry from the overall economic point of view .ie. 8% of the whole GDP. He said this sector is critical, and we need to be atmanirbhar for all the power grid technologies.
He further added that the electronic sector would create 2 million jobs in the next five years.
He shared the advantages of manufacturing electronic components in AP:
1. The geographical conditions - the state has six major ports and six airports, out of which three are international, so logistic costs will come down drastically compared to any other state.
2. Ecosystem - AP has the world's largest original equipment manufacturer - Foxconn
AP has the world's largest original design manufacturer- Wintech
AP has a Japan cluster, and a Korean and Taiwan cluster.
3. AP Government Incentives - Govt will establish Electronic manufacturing infrastructures from scratch.
Mr Kishore said Electronic components manufacturing is a cutthroat competition between countries, not states. India has to compete with the giants like Taiwan and Korea.
He stressed Electronic components manufacturing in the country is cheaper than importing from foreign countries. So if we don't manufacture, there won't be any growth here.
Uma Reddy, MD, Hitech Magnetics & Electronics Pvt. Ltd - In 2020 electronic manufacturing sector is at 425 billion dollars, and from this, how much of each electronic sector capture. Electronic manufacturing policies cover four areas: R&D, Electronic Manufacturing, Ecosystem of doing business and component manufacturing.
The Bizz Buzz Business Conclave by the Hans India begins its 3rd session with the same enthusiasm. Several panelists and dignitaries have attended the BBBC programnme in Visakhapatnam. The new dignitaries have also hailed ‘The Hans India’ for organising such a unique conclave for the sake of the young enthusiast businessmen and choosing Visakhapatnam for its first phase of BBBC programme.
During the 2nd session on IT and SW, all the panelists delivered their valuable suggestions and elaborated on the opportunities of Vizag city to be emerged as an IT hub. Read more:-
Post lunch session started to discuss Electronics and it's allied sector.. Opportunities, challenges in electronics industry would be the agenda of this session
Meet the experts in a panel discussion on Andhra Pradesh - Embedding Bharat's Code in the global circuit to discuss the growing influence of the tourism sector as an economic powerhouse and its potential as a tool for development are certain. Experts from the field to share their in-depth views in a discussion about Visakhapatnam’s potential in churning employment opportunities, start up culture etc.