Andhra Pradesh Boosts Economy with Rs 2 Lakh Crore Investment Projects

Andhra Pradesh SIPB, chaired by Chief Minister N Chandrababu Naidu, approved investment proposals exceeding Rs 2 lakh crore, including major projects by Reliance and Adani Group. These initiatives aim to create over 39,000 jobs. The CM emphasized swift execution and supporting MSMEs alongside large industries for balanced growth.

The Andhra Pradesh State Investment Promotion Board (SIPB), led by Chief Minister N Chandrababu Naidu, sanctioned investment proposals surpassing Rs 2 lakh crore on Wednesday.

These include a large-scale Reliance Industries data center project worth over Rs 1 lakh crore in Visakhapatnam, a Rs 51,300-crore Reliance solar power initiative, and a Rs 12,297-crore Adani Group's pumped storage hydro project in Kadapa. Overall, the projects aim to generate over 39,000 jobs.

The Chief Minister emphasized the necessity for timely execution of these projects to maintain the state's reputation for efficient clearances. He also highlighted the importance of supporting MSMEs alongside large industries in pursuit of the 'One Family-One Entrepreneur' goal, while advocating for infrastructure expansion in industrial zones and crop value addition for farmer benefits.