Naidu offers ‘sovereign guarantee’ to investors
Visakhapatnam: Chief Minister N Chandrababu Naidu on Friday issued one of the strongest investment guarantees any Indian state has offered in recent years, declaring that companies investing in the State will face “no political or bureaucratic interference” and will receive government incentives through dedicated escrow accounts backed by a sovereign assurance.
Speaking at the inauguration of the 30th CII Partnership Summit, opened by Vice-President of India CP Radhakrishnan, Naidu positioned Andhra Pradesh as a stable, policy-driven investment destination at a moment when global capital is searching for predictable emerging markets. Delegations from 72 countries, including 522 foreign representatives and nearly 2,500 industry leaders, are attending the two-day summit.
“We will open special escrow accounts for incentives, backed by a sovereign guarantee,” the Chief Minister said in his keynote address. “Investors should enter Andhra Pradesh without any doubt. There is a stable government here, and it is our responsibility to ensure you face no problems in the future.”
Naidu added that the State would work with the Centre to simplify labour regulations, further reducing friction for investors. He said Andhra Pradesh moved from “Ease of Doing Business to Speed of Doing Business,” promising real-time clearances and expedited land allotment.
Positioning Visakhapatnam as “India’s most beautiful and safest city,” Naidu said Andhra Pradesh now stands as a gateway for global investment into India, backed by natural resources, a 1,000-km coastline, and an expanding port and logistics network.
He highlighted opportunities in green energy, technology manufacturing, tourism, agribusiness, and logistics, noting that India under Prime Minister Narendra Modi is experiencing unprecedented investor confidence. “In the next elections, the NDA government led by Prime Minister Modi will return to power. India is now a global leader in attracting investments,” he said. In an ambitious future-tech roadmap, Naidu announced that the State will soon establish a Quantum Valley, aiming to begin producing quantum-computing hardware within two years. Andhra Pradesh is also developing aerospace, drone, electronics, semiconductor and defence corridors, creating dedicated clusters to draw high-value manufacturing.
He reiterated the state's aggressive renewable-energy goal of 160 gigawatts, including solar, wind, pumped hydro and battery-storage systems. “Google is setting up its largest data centre in Visakhapatnam. AP has vast potential in deep-technology sectors,” he said.
In one of the most attention-grabbing announcements, the Chief Minister said the State plans to launch drone taxis from Andhra Pradesh, positioning the State at the forefront of mobility innovation in India.
Naidu underscored the state’s reserves of rare earth minerals, calling them a major investment frontier. He urged companies to capitalise on opportunities in agritech, EV technology, food processing, organic products, and coastal tourism.
To anchor the state’s global exhibition ecosystem, he announced that land would be allocated in Visakhapatnam for the construction of “Andhra Mandapam,” modeled on Bharat Mandapam in New Delhi.
Naidu said Andhra Pradesh attracted $20 billion in investments over the past 17 months, creating two million jobs. He expressed confidence that the state would draw $500 billion within three years and is targeting $1 trillion in the next decade, creating five million jobs. Naidu congratulated the NDA on its win in Bihar, saying voters had reaffirmed their trust in Prime Minister Narendra Modi. “People have crowned development,” he said.
