Chandrababu Announces Rs 9.98 Lakh Cr Investments At Vizag CII Summit

Andhra Pradesh has attracted investment proposals worth Rs 9.98 lakh crore through the two-day CII Partnership Summit held in Visakhapatnam. CM Chandrababu Naidu announced that 303 proposals were received across several sectors, including manufacturing, food processing, education, healthcare, aviation, automobiles, aerospace, defence and electronics.

Speaking at the concluding session on Friday, Chandrababu said the summit had brought together representatives from several countries, industrialists and Union Ministers. He expressed happiness over hosting the event in Visakhapatnam and highlighted the city’s growing importance as an industrial destination.

Reliance emerged as one of the major investors, with proposals worth Rs 2.43 lakh crore. South Korean automobile manufacturer Kia has also come forward to invest Rs 19,000 crore to increase its annual vehicle production capacity by another two lakh cars.

The second day of the summit also saw significant investment commitments. In the presence of IT and Industries Minister Nara Lokesh, 24 companies signed agreements worth Rs 1,05,634 crore. These projects are expected to create around 75,055 jobs across aerospace, IT, electronics, data centres, semiconductors, healthcare and renewable energy sectors.

Chandrababu also highlighted the government’s efforts to make Andhra Pradesh an investor-friendly state. He said industrial permissions were being simplified through a system involving just 13 licences, with approvals targeted within five days. Automatic approvals and self-certification facilities have also been introduced.

The Chief Minister announced that an escrow account system for industrial incentives had come into effect, while an Investment Protection Act would be introduced soon to provide greater confidence to investors.

He further revealed that out of 714 investment proposals received since 2024, around 522 were moving towards implementation.

Looking ahead, Chandrababu spoke about his vision of ‘One Family, One AI’, aimed at developing AI skills among people in every household. He also said Andhra Pradesh was targeting 160 GW of renewable energy capacity as part of its ambition to become a major clean energy hub.

The Chief Minister said the government was also working to empower women through self-help groups and develop major infrastructure projects, including Bhogapuram Airport, Visakhapatnam Steel Plant revival and the South Coast Railway Zone.