Andhra Pradesh Boosts Economy with Rs 31,167 Crore Investment Approval

The State Investment Promotion Board of Andhra Pradesh, led by CM N Chandrababu Naidu, has greenlit investment proposals worth Rs 31,167 crore. These involve 17 entities and are anticipated to create 32,633 jobs across food processing, IT, energy, and other sectors. The meeting emphasized both attracting and realizing investments.

The Andhra Pradesh State Investment Promotion Board, under the stewardship of Chief Minister N Chandrababu Naidu, has sanctioned investment proposals amounting to Rs 31,167 crore. The investment spans sectors like food processing, IT, and energy, promising to generate 32,633 jobs as per official sources.

In a strategic move, State IT Minister Nara Lokesh suggested providing land to IT firms at reduced rates. Chief Minister Naidu concurred, instructing a revision in the IT policy to accommodate this incentive. The board aims to ensure that attracted investments materialize effectively at the grassroots level.

Naidu directed his officials to compile a report detailing the implemented investments and the number of jobs they created, to be presented at the board's next meeting. The proactive approach aims to solidify the state's position as a hub for diversified sectoral investments.

(With inputs from agencies.)