Visakhapatnam: Ministerfor Education, IT, and Electronics Nara Lokesh has observed that global companies like ArcelorMittal and Google are coming forward to invest heavily in the state, thanks to Chief Minister Chandrababu Naidu's visionary leadership.

Addressing the second international conference and exhibition on aerospace manufacturing held here on Friday, he remarked: "With a double-engine government led by Prime Minister Modi and Chief Minister Chandrababu, Andhra Pradesh has the necessary ecosystem for industrial development in the beautiful city of Visakhapatnam."Lokesh called upon industrialists to invest in the state, emphasising that to achieve the Vision-2047 target, the state needs to maintain a growth rate of 15 per cent annually.

The conference, jointly organised by the Ministry of Civil Aviation, the Confederation of Indian Industry (CII), and the Society of Indian Defence Manufacturers, attracted prominent industry leaders, Global Original Equipment Manufacturers (OEMs), MSMEs, academicians, and aerospace and defence sector experts.

Speaking as the chief guest, Minister Lokesh recalled the criticism faced by Chandrababu Naidu when he initiated the construction of the Shamshabad Airport over 5,000 acres. "Today, 11 per cent of Telangana's GSDP is contributed by the Shamshabad Airport alone," Lokesh shared. He added that under the same visionary leadership of Naidu, the Bhogapuram Airport is being developed, which will transform the face of north Andhra.

Lokesh highlighted three key advantages of investing in the state: visionary leadership, experienced young leadership, and the environs of a ‘startup state’. He mentioned that steered by Chandrababu's vision and capable leadership, AP is becoming a preferred investment destination.

The Minister announced that work on the ArcelorMittal steel plant is set to begin in October, and Asia's largest Google data center will be established in the state. He also mentioned that Renew, a company specializing in renewable energy, has started work on the country's largest hybrid renewable energy project in Rayalaseema.

Lokesh gave a strong assurance to potential investors, stating, "Once you sign an MoU with Andhra Pradesh, it is no longer just your project; its complete responsibility is ours."

The Minister added that policy changes have been made to streamline the approval process for aerospace and defence manufacturing companies investing in the state.

Union Minister for Civil Aviation Kinjarapu Ram Mohan Naidu, State MSME Minister Kondapalli Srinivas, CII AP Chairperson Gannamaneni Muralikrishna, AP Economic Development Board CEO Saikanth Varma, AP Aerospace & Defence Advisor Satish Reddy, GMR Airports CEO Karan Bir Singh Kalra, CII Deputy Director Sonal Banerjee, and Cyient Founder Chairman BVR Mohan Reddy, among others, also participated.