AP aims for $1 Trillion investment with 20 lakh jobs, says CM Naidu

Chief Minister Nara Chandrababu Naidu has announced that Andhra Pradesh (AP) is poised to become a prime destination for investors, with no shortage of land available for new industries and projects. Speaking at the CII Investment Summit held in Visakhapatnam, he highlighted that the state has introduced 25 investment-friendly policies and is moving rapidly to allocate land for development.

Naidu revealed that AP has attracted $20 billion in investments in just 17 months, generating the potential for 20 lakh jobs for the state's youth. He outlined ambitious goals for the future, aiming for $0.5 trillion in investments and 50 lakh jobs in the coming years, with a target of $1 trillion in the next decade.

The Chief Minister emphasised the state’s infrastructural reforms and the establishment of an escrow account to facilitate industry incentives, along with a sovereign guarantee for investors. He expressed confidence that India is emerging as a global leader in attracting investments, with Andhra Pradesh acting as the gateway.

Speaking on the attributes of Visakhapatnam, which was recently declared a safe city, Naidu described it as "the most beautiful city in the country." He accentuated the central government's support under Prime Minister Modi’s leadership, indicating belief in the ongoing reforms and the promise of a prosperous future for India.

The summit saw participation from over 522 foreign representatives across 72 countries, alongside 2,500 industrialists, reflecting a robust interest in various sectors such as aerospace, defence, and technology. Naidu also announced the potential establishment of innovative projects, including a Quantum Valley and Drone City in AP.

Highlighting the importance of green energy, Naidu noted ongoing efforts to generate 160 gigawatts of electricity through renewable sources and encouraged industry leaders to explore opportunities in sectors such as tourism, agritech, and logistics.

In closing, CM Chandrababu Naidu urged industrialists to leverage the abundant opportunities in AP, promising that the state government would assist in the provision of land and support for infrastructure projects, including a proposed Andhra Mandapam in Visakhapatnam for commercial exhibitions.