Did Andhra Pradesh Attract Rs 9.62 Lakh Crore in Investments This Past Year?

Vijayawada, June 25 (NationPress) The Chief Minister of Andhra Pradesh, N. Chandrababu Naidu, announced on Wednesday that the state has garnered an impressive Rs 9.62 lakh crore in new investments over the past year, potentially creating 8.79 lakh new jobs.

While addressing the FICCI National Executive Committee, he highlighted key investments from major firms including Ashok Leyland, Adani, JSW, Daikin, BPCL, LG, and Aramco.

Naidu mentioned the construction of three greenfield ports and seven greenfield airports, along with the establishment of three industrial corridors—Hyderabad-Bangalore, Chennai-Bangalore, and Visakhapatnam-Chennai.

He expressed confidence that by 2047, Andhra Pradesh will rank as the number one state across all metrics.

The state's ambition is to evolve into a $2.4 trillion economy with an annual growth rate of 15 percent. Naidu reassured industry leaders that Andhra Pradesh is poised for leadership with its policies, infrastructure, and a greenfield capital city.

“Our capital, Amaravati, is being designed as a green field city that promotes good health and a high life expectancy. We welcome investors and visionaries to join us in shaping the future of Andhra Pradesh,” the CM stated.

He noted that the state's growth trajectory closely mirrors national trends, with a recorded 8.21 percent GSDP growth in 2024-25, making it the second-fastest growing state in India. Naidu reported that the state's per capita income now exceeds the national average.

Outlining a bold vision, he emphasized a shift from “Ease of Doing Business” to “Speed of Doing Business.”

The Chief Minister reiterated the necessity for economic reform to go hand in hand with poverty reduction. He credited the liberalization initiated by the late Prime Minister PV Narasimha Rao as a pivotal moment in India’s economic evolution and acknowledged Prime Minister Narendra Modi for providing stable governance that has positioned India as the world’s fastest-growing economy.

Reflecting on his decades-long advocacy for technology, Naidu noted his promotion of IT in India, which led to the creation of Hyderabad’s Hi-Tech City. He indicated that Andhra Pradesh is now advancing into cutting-edge fields such as AI, quantum computing, commercial satellites, drones, and nanotechnology.

The CM mentioned support from Bill Gates for real-time health monitoring systems in the state, designed to reduce hospitalization expenses and facilitate preventive healthcare. He emphasized that data is the future's wealth and that India’s demographic advantage lies in its youthful population.

Naidu articulated that the state’s development model is grounded in the P4 philosophy (Public, Private, People, Partnership). He called upon industry leaders and the affluent top 10 percent, referred to as 'Margadarsi', to actively mentor and uplift the bottom 20 percent, or 'Bangaru Kutumbam.'

He assured investors that enhanced incentives would be provided for investments in the state's less developed areas.