Andhra Pradesh secured Rs 22 lakh crore investment in 28 months: Chandrababu Naidu

New Delhi/Amaravati, Oct 8 (IANS) Andhra Pradesh secured investments totalling Rs 22 lakh crore during the past 28 months, Chief Minister Nara Chandrababu Naidu said on Thursday. 

The state government is moving forward with the "Build AP" motto, aiming to transform Andhra Pradesh into the country's premier destination for investments, industries, and employment generation, he said at the CII Partnership Summit 2026 curtain-raiser event in New Delhi, in the presence of Union Commerce and Industry Minister Piyush Goyal.

According to an official release, Naidu briefed industrialists on investment opportunities in the state, the support provided by the Centre, ongoing projects across various sectors, and the future roadmap.

The Chief Minister noted that agreements worth Rs 13.50 lakh crore were signed during the partnership summit held last year, emphasising that the focus is not merely on signing MoUs but on converting them into tangible investments.

He said prominent companies, such as ArcelorMittal and Google, are setting up operations in Andhra Pradesh.

The industrial incentives escrow account, as previously declared, would be launched on November 12-13, he said, and revealed that the NALA Act, which posed a hurdle to investments, has been repealed.

He affirmed that Andhra Pradesh is ready to immediately implement any policy that fosters state progress.

The Chief Minister noted that "Speed of Doing Business" is being implemented to capitalise on the immense opportunities available in the agriculture, industrial, and service sectors.

He stated that interconnecting the Godavari, Krishna, Penna, Tungabhadra, and Cauvery rivers would eliminate water scarcity for Andhra Pradesh, Karnataka, and Tamil Nadu.

He mentioned the goal of transforming Rayalaseema into a global horticulture hub and reiterated the aim of making Andhra Pradesh a gateway to Southeast Asia.

He told investors that agreements for generating 110 gigawatts of power have already been signed as part of the 500-gigawatt green energy target and mentioned plans to establish a green energy transmission corridor.

He further revealed that Mazagon Dockyard Limited has come forward to set up a shipbuilding centre at Dugarajapatnam, while Goa Shipyard has agreed to establish a shipbuilding facility at Machilipatnam.

He highlighted that the state's revenue has increased significantly due to the implementation of AI-based technology in GST tax collection.

CM Naidu also requested the Central government to establish an international-standard convention centre to host CII partnership summits.

He stated that Prime Minister Narendra Modi is playing a key role in strengthening the nation across all sectors. He congratulated the Prime Minister for his 25 years of uninterrupted public service.

He noted that the Prime Minister played a pivotal role in establishing digital infrastructure across the country. He made a mention of India ranking second globally in terms of its magnificent road network and holding a significant position in its railway network.

He stated that the Central government and Prime Minister Modi have been proactive in supporting Andhra Pradesh, providing financial assistance for various projects, including the Polavaram project and the construction of the Amaravati capital.

Union Minister Goyal stated that Andhra Pradesh plays a crucial role in India's development journey and remains a key destination for entrepreneurs and industrialists. He praised "visionary leader" Chandrababu Naidu for embracing technology as early as 1998 and creating vast opportunities within the state.

He mentioned that Prime Minister Modi and the Central government are extending full support for Andhra Pradesh's development as a 'Sunrise State.' He noted that a Google data centre is being established in Visakhapatnam, alongside a Quantum Computing Valley in Amaravati.

He emphasised that the Centre and the states are working together as 'Team India' for the nation's development. He observed that Andhra Pradesh is attracting massive investments by leveraging the opportunities provided by the Centre.

He appealed to industrialists to attend the investment summit in Visakhapatnam and explore investment opportunities in the state.

CII Director General Chandrajit Banerjee and President R. Mukundan participated in the meeting.

--IANS

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