Andhra Pradesh receives 340 proposals for ₹13-lakh-crore investment: CM Jagan Mohan Reddy.

Andhra Pradesh Government has received 340 proposals involving an investment of ₹13-lakh-crore during the Global Investors Summit 2023 which began here today. This was disclosed by Chief Minister YS Jagan Mohan Reddy in the inaugural session of the summit.

Out of this, 92 memorandums of understanding (MoUs) were signed on Friday involving ₹11,87,756 crore investment and generating 3.92 lakh employment in the State, he said. The remaining MoUs will be inked recently. 

Major companies, including Reliance Industries, Adani Group, Jindal Group, Sri Cements, Aditya Birla Group and NTPC are investing in diverse sectors, Reddy said.

“The State has abundant natural resources, good infrastructure and policies for ease of doing business,” he said adding that the four pillars of his govt’s development policy are greenification, logistics, infrastructure and entrepreneurship. Assuring full support to the industry, the Chief Minister said: “We are just a phone call away.”

“Visakhapatnam will also be Executive Capital of the State and I will be personally moving here shortly in the days to come,” Reddy said.

The Energy Department has received 35 investment proposals worth ₹8.25-lakh-crore generating 1.33 lakh employment, while the Industries and Commerce received 41 proposals for ₹3.20-lakh-crore generating 1.79 lakh jobs.

The investments in IT and ITeS and Tourism were ₹32,944 crore and ₹8,718 crore, respectively, as per govt data.

HBL