Focus now is on ‘Speed of doing business’, asserts CM Naidu

TIRUPATI : In a significant boost to the industrial sector of Andhra Pradesh, Chief Minister Nara Chandrababu Naidu inaugurated 16 new industries in the Sri City on Monday. These industries, with a combined investment of Rs.1570 crores, are set to provide direct and indirect employment opportunities to 8480 youths in the region.

The Chief Minister's visit to Sri City also saw the laying of foundation stones for eight additional industries. These upcoming ventures represent a further investment of Rs.900 crores and are expected to create jobs for 2740 youths.

Speaking at the event, the Chief Minister expressed his commitment to driving economic growth and employment in the state through industrial development. He highlighted the importance of these investments in transforming Andhra Pradesh into an industrial hub.

State Industries Minister TG Bharat, Home Minister Vangalapudi Anitha and DGP Dwaraka Tirumala Rao were present at the event, along with local MLA K Adimulam, and Sullurpet MLA N Vijayasree. Representatives from various industries and Sri city were also present, showing strong support for the state's industrial policies.

In the presence of CM Naidu, five companies including Daikin has signed MoUs with Sri City for future investments. Later, addressing the CEOs of Sri City companies, Naidu said that his focus now is on ‘Speed of doing business’ as the state under his governance stood at number one position for three consecutive years in ‘Ease of doing business’. He emphasised that it is important to go with speed no apart from ease of doing business.

He claimed that his government is pro-industrial development and assured to extend all support to them by addressing their demands in the next few days itself. Saying that, with industrial development only, the state will get more revenue which in turn can be spent on more welfare of the people. Sri City Chairman Srini Raju and MD Ravindra Sanna Reddy were present on this occasion.