Andhra Pradesh's Massive Investment Drive: A New Era of Development

The Andhra Pradesh cabinet has approved investment proposals totalling Rs 1 lakh crore to boost state development and job creation. This includes projects in IT, semiconductor manufacturing, and a focus on quantum computing, aiming to generate numerous employment opportunities and establish the state as a tech hub.

The Andhra Pradesh government has embarked on a significant development initiative, approving investment proposals totaling Rs 1 lakh crore. These efforts are focused on state growth and securing employment opportunities for the youth.

A notable project is the Rs 2,200 crore IT Park by Visakha Realty Ltd in Visakhapatnam, anticipated to generate 30,000 jobs. In parallel, Raheja Corp Real Estate plans to invest Rs 2,172 crore in another IT park and residential complex, projected to create 9,681 jobs.

The cabinet also endorsed Indichip Semiconductors' Rs 23,000 crore project to manufacture silicon carbide devices. Further, the Andhra Pradesh Quantum Computing Policy 2025-30 aims to attract USD 1 billion in investments by establishing the Amaravati Quantum Computing Centre, creating 5,000 skilled jobs, and nurturing over 100 startups.

(With inputs from agencies.)