Andhra Pradesh Investment Board Greenlights 27 Major Projects
The State Investment Promotion Board (SIPB) of Andhra Pradesh convened on Wednesday and granted approval to twenty-seven significant investment proposals spanning multiple critical sectors of the state's economy. The diverse portfolio of cleared projects includes information technology, renewable energy, tourism development, food processing, infrastructure enhancement, and various industrial initiatives.
Massive Investment and Employment Generation
Once fully realized and operational, these newly approved ventures are projected to channel investments totaling an impressive Rs 29,021 crore into the state's economic landscape. Furthermore, they are anticipated to create substantial employment opportunities, generating approximately 22,407 new jobs for the local workforce, thereby providing a significant boost to livelihoods and economic activity across Andhra Pradesh.
Chief Minister's Directive for Expedited Implementation
Chairing the crucial SIPB meeting, Chief Minister N Chandrababu Naidu issued clear instructions to government officials, emphasizing the need for a 'speed of doing business' approach to ensure all approved projects are grounded and operational without unnecessary delays. The Chief Minister declared that he would personally review the progress of these investments on a monthly basis, underscoring that adherence to established timelines is mandatory for all stakeholders involved.
In a firm stance to ensure accountability, CM Naidu directed officials to reclaim land previously allotted to companies if they fail to commence operations as stipulated in their lease agreements. He further empowered a ministers' committee with the authority to cancel any allotment deemed necessary, reinforcing the government's commitment to timely project execution.
Focus on High-Profile Projects and Sectoral Development
The Chief Minister specifically highlighted that upcoming projects by major corporations such as Google, ArcelorMittal, and BPCL should not encounter any administrative obstacles, instructing officials to facilitate smooth implementation. He also emphasized engaging Non-Resident Indians (NRIs) for attracting new investments and indicated the government's readiness to extend special incentives for semiconductor manufacturing units, a sector of strategic importance.
Additional incentives for companies establishing projects on their own land are also under examination, showcasing a flexible approach to investment promotion. On the tourism front, CM Naidu outlined plans to develop Visakhapatnam, Amaravati, and Tirupati as regional tourism hubs, with specific clusters planned at Suryalanka, Polavaram, Pulicat, Gandikota, Srisailam, Madanapalle, and Horsley Hills.
Infrastructure and Sector-Specific Initiatives
A landmark 'Bharat Mandapam' convention centre is slated for development in Visakhapatnam, positioning the city as a major destination for large-scale events. Officials were instructed to create Shilparamams (crafts villages) in all districts and facilitate hotel and convention infrastructure in locations including Kakinada and Eluru, enhancing hospitality capacity.
The promotion of sports and creative ecosystems, encouragement of health tourism, and expedited establishment of the proposed Culinary Institute in Tirupati were also emphasized. Value addition in the aquaculture sector, along with dairy, poultry, and meat processing, was highlighted as crucial for improving export prospects and agricultural economy.
Policy Measures and Historical Context
CM Naidu asked officials to specify clear commissioning dates for projects and link employment data with the state's skills portal to reflect real-time job vacancies accurately. Instructions were also given to develop a comprehensive warehousing policy and expand electric vehicle (EV) charging station networks in Visakhapatnam, Vijayawada, and Tirupati, supporting sustainable mobility.
This meeting marks the 15th session of the SIPB since its inception. Cumulatively, the board has now cleared investments worth a staggering ₹9,03,726 crore, with an employment potential for 8,58,082 people, demonstrating Andhra Pradesh's sustained focus on economic growth and job creation through strategic investment facilitation.
The meeting was attended by key ministers including Nara Lokesh, Anagani Sathya Prasad, TG Bharat, P Narayana, K Atchannaidu, along with senior government officials, reflecting a collaborative governmental effort to drive the state's industrial and economic advancement forward.
