Andhra Pradesh Greenlights Massive Investment Surge

Andhra Pradesh's Chief Minister N Chandrababu Naidu led the 12th State Investment Promotion Board meeting, approving investments worth over Rs 1 lakh crore across 26 industries. These investments could create 85,870 jobs, contributing to the state's total investment attraction of over Rs 8 lakh crore, supporting 7 lakh jobs.

Andhra Pradesh, under the leadership of Chief Minister N Chandrababu Naidu, is set to witness a significant economic boost as the 12th State Investment Promotion Board (SIPB) sanctioned investments totaling over Rs 1 lakh crore. These approvals, touching 26 diverse industries, could generate approximately 85,870 jobs.

The new wave of investment enhances the state's reputation, drawing total investments to over Rs 8 lakh crore, resulting in employment opportunities for more than 7 lakh individuals. The Chief Minister emphasized ensuring timely implementation of industrial projects and proposed the formation of 15 industrial zones to drive cluster-wise growth.

Further, Naidu encouraged the strategic use of Central Government incentives to stimulate industry establishment. He also highlighted the importance of land acquisition, advocating for land banks, and called for transforming Visakhapatnam into a mega city along with developing Amaravati and Tirupati as tourism and IT hubs. The forthcoming CII Partnership Summit was underscored as a significant event to bolster these initiatives.

(With inputs from agencies.)