AP eyes Rs. 10L-cr investments

Visakhapatnam: The stage is set for Andhra Pradesh’s quantum leap as the high-profile CII Partnership Summit, a two-day global investment conference, begins in Visakhapatnam on Friday as part of Chief Minister Nara Chandrababu Naidu’s renewed push to position Andhra Pradesh as a major global investment destination. Vice President of India CP Radhakrishnan will inaugurate the summit, with Andhra Pradesh Governor Justice S. Abdul Nazeer attending as the guest of honour.

Chief Minister Naidu has projected that the summit could attract investments worth nearly Rs10 lakh crore, crystalizing into a turning point for the state’s industrial revival. The event has grabbed the attention of policymakers, industry leaders, and the state’s youth, who have long been seeking promising employment avenues within Andhra Pradesh.

Despite the state’s rich pool of engineering and technology talent—some of whom have gone on to even lead international tech giants such as Google and Microsoft—industrial stagnation has historically forced young professionals to either migrate abroad or remain underemployed. Naidu’s government is seeking to change that dismal situation through aggressive investment outreach and global partnerships.

Giving an indication of the first fruits, on Thursday, that is, on the eve of the summit, the state government signed a series of memoranda of understanding (MoUs) relating to major projects across multiple sectors, committing investments worth Rs3.65 lakh crore. The agreements cover energy, food processing, infrastructure, and industrial development, collectively promising thousands of new jobs in the coming years.

The energy sector emerged as the summit’s dominant pillar, drawing investment commitments exceeding Rs2.64 lakh crore through seven major agreements. Companies such as ABC Cleantech, Axis Energy Ventures, Renew Power, Navayuga Engineering, Chinta Green Energy, and Indosol have pledged large-scale renewable and green energy projects that are expected to create more than 49,000 jobs. ABC Cleantech and Axis Energy Ventures alone committed Rs1.1 lakh crore with an employment potential of 13,500 jobs, while Renew Power and its subsidiaries will invest close to Rs54,000 crore in clean energy ventures.

The industrial and commercial sector secured additional investments of approximately Rs 52,000 crore through a mix of logistics, manufacturing, and technology partnerships. Prominent participants include Vizag Profiles Logistics, Steel Exchange India, and Shirdi Sai, collectively expected to generate over 32,000 jobs. Emerging firms such as Laurus Labs, Premier Explosives, and Taiwan Private Industrial Parks also pledged multi-crore projects aimed at enhancing the state’s manufacturing and export capacity.

The Andhra Pradesh Capital Region Development Authority (APCRDA) attracted a further Rs32,300 crore in investments. The Manipal Group, Berjaya Group, and Amaravati Life Sciences were among the key signatories, committing to projects in real estate, life sciences, and smart urban development that together will generate nearly 8,000 jobs in the Amaravati region.

The food processing sector, an area of strategic focus for rural employment, secured Rs2,319 crore in investments. Firms such as Women’s Ova Agro Food Park, ITC Foods, Godrej Agro Vet, and Bisleri have announced expansions and new facilities that will create over 8,000 jobs, with an emphasis on value addition in agriculture and food exports.

The Industries and Infrastructure (I&I) Department also inked MoUs worth Rs12,255 crore, led by LNG and resource development projects from Crown LNG and RCRT, expected to create more than 1,300 jobs.

Altogether, these early bird commitments signal robust investor confidence in Andhra Pradesh’s renewed economic roadmap.

As the summit opens today, the government’s focus will shift to building on the MoUs to ensure that these projects translate into tangible industrial activity that can be showcased during the summit for those inclined to invest in AP— a test that will determine whether the state’s ambitious Rs10 lakh crore target can become a reality.