The Partnership Summit 2012 will be formally launched in Hyderabad on Thursday afternoon. Minister of Commerce, Anand Sharma and trade and economic ministers from 15 countries will be attending the largest business event of the country.

High level business delegations from about 40 countries and over 1200 delegates are expected to take part in the event.

The Department of Industrial policy, Confederation of Indian Industry-CII and the Andhra Pradesh Government are jointly holding the Two-day summit.

The Partnership Summit will bring together economic and commercial policymakers, businesses, innovators, and the public at large.

The summit will discuss various aspects of innovation in all spheres of economy. The deliberations include the New Drivers of Development and New Age Innovation Partnerships.

Country specific sessions with USA, China and Africa will also be held during the event. The summit is also aimed at evolving a road map on partnership in innovation for global growth and development.

Meanwhile, Andhra Pradesh is expected to sign about 140 Memoranda of Understanding with investment proposals worth over five lakh crore rupees in sectors like Infrastructure, Power, Manufacturing, Refineries and Tourism.

The Rashtriya Ispat Nigam Limited and the state Government are also likely to sign an MoU during the Summit for expansion of the Visakhapatnam Steel Plant with an investment of 44 thousand crore rupees.