2024: A Year of Excellence and Sustainable Progress for Sri City

Sri City Integrated Business City, located in Tirupati district, Andhra Pradesh, proudly highlights its exceptional performance in 2024, marked by notable achievements in driving economic growth, generating employment, and advancing sustainable development. As a premier industrial hub, Sri City continued to attract investors and provide a thriving ecosystem for businesses.

Dr. Ravindra Sannareddy, Founder and Managing Director of Sri City, expressed satisfaction with the year’s progress, stating, “2024 has been another remarkable year for Sri City. We deeply appreciate the unwavering support of our esteemed partners and the cooperation of state and central governments, which strengthen our dedication to sustainable growth.” Recognising the determination and innovation of Sri City’s industries, he emphasised that the units have achieved outstanding growth.

Here’s a summary of the key developments that took place in Sri City during 2024:

1. Significant events

• • On August 19, The Hon’ble Chief Minister of AP Mr. Nara Chandrababu Naidu, along with the Hon’ble Minister of Industries Mr. T.G. Bharath, participated in a Sri City Pragathi Utsavam. 

• • He inaugurated a few newly commissioned industries, performed groundbreaking for a few upcoming companies, and witnessed the signing of a few MOUs between Sri City and new investors.
  • He inaugurated the newly built fire-station and laid the foundation for the new Hi-Tech Police Station, bolstering infrastructure and safety within the industrial hub.

• • In March 6,  the Hon’ble Governor of Mizoram, Dr. Hari Babu Kambhampati, visited Sri City. In a meeting with the industry CXOs, he commended Sri City’s excellent infrastructure, investor-friendly environment, and its role in transforming the region. The Governor particularly appreciated Sri City’s focus on employment generation and skill development.
  • On November 14, Mr. B.V.R. Subrahmanyam, IAS (Retd.), CEO of NITI Aayog, the Government of India’s premier public policy think tank, visited Sri City. During his visit, he participated in an interactive session with industry CXOs and lauded Sri City’s accomplishments and vibrant diversity.
  • On October 29, the Hon’ble Minister of Industries Mr. T.G. Bharath unveiled the game-changing New Industrial Policy to the Sri City Corporate leaders.
  • On December 18, Isuzu Motors India celebrated the rolling out of its 1,00,000th ‘Made in India’ vehicle, the renowned Isuzu D-MAX V-Cross, unveiled by Dr. N. Yuvaraj IAS, Secretary, Industries & Commerce Department, Government of Andhra Pradesh.   

B. Investment Boom, Manufacturing Prowess and New Jobs: 

• • During 2024, till date 15 MOUs were signed, at a committed total investment worth of Rs. 3750 crore and with a scope to offer employment to over 17,000 people. 
  • 9 new companies have kick-started construction of their plants, while 16 units went on stream marking the entry into the operational phase.
  • Besides, in their quest to cash-in on the emerging business opportunities in the country, existing 9 production units have ramped up facilities and expanded their production capacity.

C. Emerging as the ‘Cool Capital’ of India: 

A particularly noteworthy development was the emergence of Sri City as the undisputed air conditioner manufacturing hub of India. With the presence of major players like Daikin, Blue Star, Amber, EPACK Durable, and Havells, Sri City is attracting numerous supply chain companies, including Nidec.

D. Distinguished Visitors & Large Delegations: 

The preference for Sri City as a potential destination for future investments is evident from the visits of Consul Generals and high-ranking officials of other countries, including Belgium, Japan,  Reunion Island in France and Russia. The Ambassador of India to Japan also visited. Additionally, visits of senior level government and business  delegations from Singapore, Belorussia and Japanese prefectures Hiroshima and Toyama further underscore this inclination. 

A number of high-ranking officials from both the Central and State Governments have visited and engaged with the CEOs/CXOs of various industries as part of the proactive industrial policies and drive to enhance the the ease of doing business pursued by the governments.

A 100-member delegation of young aspiring entrepreneurs from the Jain International Trade Organisation (JITO) and a delegation of senior officials from the Enterprise Singapore (ESG) agency under Singapore’s Ministry of Trade and Industry visited Sri City to explore its business potential.

The 7th Jagriti Yatra (350 yatris – budding entrepreneurs) appreciated Sri City’s role in India’s manufacturing and job creation goals. Batches of trainee IAS & IPS officers and government and business delegations from other states have visited to study the implementation model of Sri City as an integrated business city. 

E. Sustainability Initiatives: 

Sri City’s unwavering commitment to environmental stewardship garnered international acclaim. Its dedication to green practices, evident in its infrastructure development and innovative initiatives earned good recognition, cementing Sri City’s position as a global leader in sustainable development, offering a blueprint for environmentally conscious growth.

F. Atmanirbhar Sri City: 

Initiatives focused on achieving self-sufficiency in housing, social infrastructure, and sustainable practices. Proactive measures during the recent cyclone ensured Sri City operated near-normally, earning recognition for disaster preparedness.

G. Accolades and Recognitions: 

The following awards and achievements showcase Sri City’s commitment, sustainability, and innovation in the business world: In recognition of its remarkable growth and dedication to exemplary business practices, Sri City has been honoured with the prestigious Herald Global International Brand Advertising Research and Consulting’s (BARC) ‘Brand of the Decade’ award at the Goalfest Conclave 2024, and the Confederation of Indian Industry’s (CII) CFO Excellence Award. Several industrial units, including Venture Automotive, IFF, Tata Smartfoodz, Axxelent Pharma and Mango Resort have received notable recognitions/appreciations. 

H. Corporate Social Responsibility (CSR): 

Demonstrating solidarity and commitment to social welfare, the Sri City fraternity contributed a total amount of Rs. 1 crore to the district disaster relief fund to support flood relief efforts in the region. Dr. Ravindra Sannareddy, Founder and Managing Director of Sri City, handed over the cheque to Joint Collector of Tirupati District Mr. Subham Bansal, IAS.

Several industrial units, including the Sri City Japanese Companies Association (SJCA), Parksons Packaging, NS Instruments, Unicharm, Pricol, Isuzu Motors, Hamilton and IMOP, with a focus on education, healthcare, and community development have executed several CSR projects, and the cumulative amount spent for those works total to over ₹3.08 crore. Additionally, companies like Mondelez, Colgate, and Kellogg’s have implemented extensive CSR programs benefiting the entire region. The Sri City Foundation has also organized blood donation drives, dental and eye screening camps. In collaboration with SRMC Health Centre it arranged medical camps, demonstrating Sri City’s commitment to improving community lives.

I. Meetings, Seminars, and Miscellany: 

Various events, including International Women’s Day, International Yoga Day, World Environment Day, and seminars and workshops, etc., highlighted Sri City’s engagement with the community.

J. Beyond Business: Fostering a Vibrant Community: 

Sri City’s success extended beyond economic milestones, with Srivani, the city’s spiritual and literary forum, fostering a vibrant community through diverse cultural, spiritual, and literary events. From soulful bhajans and engaging performances to enriching literary discussions, Srivani created a space for connection and creativity. Highlights included Spiritual Discourses, Go-Puja ceremonies, Bhagavata Saptaham, a heartfelt tribute to poetess Tarigonda Vengamamba, Thyagaraja Aradhana with classical Carnatic music, Ugadi Awards honouring achievers, and well attended programmes by celebrated talk show host Mr. Kiranprabha and Cine Historian Mr. S.V. Rama Rao. These events profoundly enriched the cultural and spiritual essence of Sri City.

K. Going Forward:

As Sri City looks towards the future, it remains committed to its core values of growth, sustainability, and inclusivity. The city has ambitious plans to expand its industrial base, attract further investments, and create a thriving knowledge economy. With its unwavering focus on continuous improvement and innovation, Sri City is poised to shine even brighter in the years to come, establishing itself as a beacon of economic prosperity and sustainable development in India.