Andhra SIPB Approves Over Rs 1 Lakh Crore in Investments to Boost Job Creation

During the 12th State Investment Promotion Board meeting, Andhra Pradesh Chief Minister N Chandrababu Naidu approved investments exceeding Rs 1 lakh crore. These investments, spanning 26 sectors, are expected to generate 85,870 jobs. An official statement confirmed that the approved investments amount to Rs 1,01,899 crore.

With these new approvals, Andhra Pradesh has attracted investments totalling over Rs 8 lakh crore. This has resulted in employment opportunities for more than 7 lakh individuals. The Chief Minister emphasised the importance of adhering to schedules for establishing these industries.

Industrial Development and Land Utilisation

Naidu proposed the creation of 15 industrial zones across the state to facilitate cluster-wise development. He urged officials to leverage Central Government incentives to boost industrial growth. A land bank is essential for promoting industries, he noted.

The Chief Minister encouraged officials to support those willing to offer land for industrial purposes. This initiative aims to accelerate industrialisation in the region. Naidu also highlighted the potential of Visakhapatnam as a mega city.

Focus on Urban Development and Tourism

Naidu suggested merging Visakhapatnam with Vizianagaram and Anakapalli for urban expansion. He also stressed the importance of developing Amaravati and Tirupati to enhance tourism and IT sectors. These cities hold significant potential for economic growth.

The upcoming CII Partnership Summit in Visakhapatnam on November 14 and 15 was also a focal point. Naidu directed officials to ensure its success, highlighting its importance for the state's economic prospects.

The meeting underscored the state's commitment to fostering industrial growth and job creation. By focusing on strategic urban development and leveraging government incentives, Andhra Pradesh aims to become a hub for investment and innovation.

With inputs from PTI