Andhra Pradesh attracted Rs 9.62 lakh crore investment in last one year: CM Chandrababu Naidu

Vijayawada, June 25 Andhra Pradesh Chief Minister N. Chandrababu Naidu said on Wednesday that during the last one year, the state secured Rs 9.62 lakh crore in fresh investments with a potential 8.79 lakh new jobs.

Addressing the FICCI National Executive Committee here, he cited major investment commitments from companies such as Ashok Leyland, Adani, JSW, Daikin, BPCL, LG, and Aramco.

He said that the state is building three greenfield ports and seven greenfield airports. He also outlined three industrial corridors— Hyderabad-Bangalore, Chennai-Bangalore, and Visakhapatnam-Chennai.

CM Naidu exuded confidence that by 2047, Andhra Pradesh will be the number one state on all parameters.

He said the state aims to become a $2.4 trillion economy and achieve 15 per cent annual growth rate, assuring industry leaders that Andhra Pradesh is ready to lead with policies, infrastructure, and a greenfield capital city.

“Our capital, Amaravati, is being developed as a green field city, where people can enjoy good health and a high life expectancy. We invite investors and visionaries to be a part of Andhra Pradesh’s future,” the CM said.

He claimed that Andhra Pradesh is closely mirroring this national momentum. The state recorded 8.21 per cent GSDP growth in 2024-25, making it the second-fastest growing state in India. Naidu reported that the state's per capita income has risen higher than the national average.

He laid out a bold vision for the state’s future, emphasising a transition from the “Ease of Doing Business” to the “Speed of Doing Business.”

Chief Minister Naidu reiterated that economic reform and poverty eradication must go hand in hand. Citing the liberalisation spearheaded by late Prime Minister PV Narasimha Rao as a turning point in India’s economic history, he acknowledged Prime Minister Narendra Modi’s role in providing the kind of stable governance that has made India the world’s fastest-growing economy.

Reflecting on his three-decade-long advocacy for technology, Naidu said he had promoted IT when it was virtually unknown in India, leading to the development of Hyderabad’s Hi-Tech City. Now, he said, Andhra Pradesh is moving into frontier areas like AI, quantum computing, commercial satellites, drones, and nanotechnology.

The CM mentioned support from Bill Gates for implementing real-time health monitoring systems in the state, aimed at reducing hospitalisation costs and enabling preventive healthcare. He emphasised that data is the wealth of the future and that India’s demographic advantage lies in its youthful population.

Naidu said the state’s development model is rooted in the philosophy of P4 (Public, Private, People, Partnership). He urged industry and the top 10 per cent of society, whom he referred to as "Margadarsi," to actively mentor and support the bottom 20 per cent, or "Bangaru Kutumbam."

He assured investors that the government would offer better incentives for investments in the backward areas of the state.

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