Andhra CM promises support for non-resident Telugus investing in state

Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday promised to support non-resident Telugus interested in setting up businesses in the state, observing that there are several opportunities for entrepreneurship and industries.

Addressing a Telugu diaspora meeting in Zurich, Switzerland as part of his four-day visit to the Alpine nation for the 2026 edition of the World Economic Forum (WEF) in Davos, the chief minister announced a Rs 50 crore corpus fund meant to catapult non-resident Telugus (NRTs) into industrialists.

''There are several opportunities for businesses and industries in Andhra Pradesh. We will cooperate with NRTs interested in entering business and trade,'' Naidu said, adding that the state will welcome their investments.

Assuring support from Ratan Tata Innovation Hub (RTIH), the CM called on the Telugu expatriates to come up with innovative ideas to emerge as industrialists.

He promised to encourage every person interested in studying, including enabling students to avail opportunities in all the best universities across the world.

Naidu also promised to extend education loans at four per cent for foreign degrees and added that a large research establishment under 'AP (Andhra Pradesh) First' will be set up.

According to the CM, a space city is coming up in the southern state with facilities to launch satellites and exuded confidence that a drone taxi will come to Andhra Pradesh within 2026.

He also noted that drones will also be deployed as ambulances and will be used in agriculture and shared insights on various key investments the state received in the past 18 months.

Further, he reiterated that India will emerge as the second largest economy by 2038 and the reach top position by 2047.

Similarly, Naidu reiterated that Prime Minister Narendra Modi is the right leader at the right time and in the right place.

In addition to addressing the Telugu diaspora from 20 countries, Naidu also met with the founder of Eros Innovation, Kishore Lulla, and others from the company.

He informed them that Andhra Pradesh will be developed as a hub for Artificial Intelligence-driven creative enterprises.

The TDP supremo explained to Lulla that there are vast investment opportunities in areas such as AI Creative Tech Hub, Generative AI, Deep Tech and digital content economy.

The CM said that the government is encouraging investments in sectors such as digital media, virtual production, gaming, animation and film technology with the objective of creating large-scale employment opportunities for youth.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)