Andhra Pradesh seeks global investments at CII Partnership Summit in Visakhapatnam
Minister Nara Lokesh and Deputy Chief Minister Pawan Kalyan pitched the state as a secure corporate destination during the summit.
Andhra Pradesh invited companies to invest, set up factories, and relocate their headquarters to the state during the 31st Confederation of Indian Industry (CII) Partnership Summit in Visakhapatnam on Thursday. According to Telangana Today and The Hindu, the state is positioning itself as a secure and fast-paced corporate destination.
Information Technology, Electronics and Communications, and Human Resources Development Minister Nara Lokesh said the state has received investment commitments worth Rs 22.6 lakh crore since June 2024. He noted that 73 per cent of these commitments, worth Rs 17.2 lakh crore, have been converted into approved projects expected to generate employment for 12.7 lakh people.
Lokesh announced that Andhra Pradesh is set to become the first state in India to enact an Investors Protection Act to safeguard business commitments from political reversals, according to Business Today. He also urged Union Minister Piyush Goyal to implement a similar policy at the national level.
Deputy Chief Minister K. Pawan Kalyan described the state as a reliable, investor-friendly hub backed by transparent governance and political stability. He encouraged investors to utilise the state's coastal infrastructure and green energy potential.
Lokesh highlighted the state's '3S' mantra of speed, stability, and services, mentioning investments from companies such as Google, LG Electronics, and Premier Energies. He cited the state's 1,000-kilometre coastline and the construction of four new greenfield ports at Ramayapatnam, Mulapeta, Machilipatnam, and Kakinada as key advantages.