913 firms shut; AP’s brand image hit severely under YCP

Amaravati: Chief Minister Nara Chandrababu Naidu on Wednesday mounted an scathing attack on the previous YSR Congress Party government in the Assembly, alleging that 913 companies shut operations between 2019 and 2023–24 and that Andhra Pradesh’s brand image as an investment destination was “severely damaged” during that period.

Addressing the House on investment, infrastructure, IT, job creation, healthcare, education and other sectors, Naidu said major investors such as Amara Raja Group, Lulu Group International and Franklin Templeton exited the State. “Even when requested to return, they declined to do so under YSRCP regime”, he claimed, adding that youth migration rose due to lack of jobs and skills under the previous regime.

Naidu said that the NDA coalition had promised 20 lakh jobs and constituted a committee to deliver on the target. So far, 6.28 lakh jobs have been created, he claimed, specifying 2.48 lakh in MSMEs, 1.46 lakh through skill development, 95,000 in industries, 64,000 in food processing and 30,500 through Mega DSC, police constable and other government recruitments.

Highlighting fresh commitments, Naidu said the recent Visakhapatnam Summit secured Rs 13.25 lakh crore in investment proposals with potential for 16 lakh jobs. Industrial incentives worth Rs 210 crore have been released, 26 sectoral policies rolled out for faster approvals, and industrial parks are planned in all 175 constituencies. “AP was the address for Ease of Doing Business; it is now the care-of address for Speed of Doing Business,” he said, adding that an escrow mechanism would be set up to stabilise industrial incentives.

Outlining the state government’s three-node growth strategy, the Chief Minister said Visakhapatnam would anchor IT and GCC expansion; Amaravati would host India’s first Quantum Valley, and Tirupati would focus on space, electronics and defence. He said major tech companies, including Google and Tata Consultancy Services, are expanding in Visakhapatnam, while ArcelorMittal will soon lay the foundation for its steel project. He cited green energy investments by NTPC and AM Green also. The State’s long-term goal, he said, is to become a $2.4 trillion economy by 2047.

On the healthcare front, Naidu announced a universal health policy providing for free treatment up to Rs 2.5 lakh, expansion of PPP-mode medical colleges, a 100-bed hospital in every constituency, and digital health records under the Sanjeevani initiative.

Targeting the previous regime on excise, he alleged a “liquor scam“ initially estimated at Rs 3,500 crore but now believed to be as high as Rs 10,000 crore. He accused YSRCP leaders of monopolising distilleries and promoting substandard brands, citing reports linking around 30,000 deaths to liquor-related illnesses. The present government, he said, has introduced national and international brands, QR codes and holograms for end-to-end tracking, and will take strict action against violations.

While dismissing opposition criticism as a “negative campaign, Naidu said the reforms of his administration aim to restore investor confidence, generate employment, and protect public health.