Andhra Pradesh’s State Investment Promotion Board (SIPB) approved investment proposals worth ₹1,01,899 crore in its 12th meeting, aiming to boost industrial growth and employment in the state. Chaired by Chief Minister N. Chandrababu Naidu, the meeting cleared 26 projects expected to generate 85,870 jobs, taking the total investments attracted by the government to ₹8,08,899 crore with employment potential for over 7 lakh people.
Naidu emphasized strict adherence to project timelines and advocated for the establishment of 15 industrial zones to foster cluster-based development. He stressed the creation of a land bank to facilitate faster industrialization and encouraged officials to support landowners willing to lease property to companies.
The Chief Minister outlined a vision to develop Visakhapatnam as a megacity by merging it with neighboring areas Vizianagaram and Anakapalli, while earmarking Amaravati and Tirupati as key centers for tourism and IT growth. He highlighted the significance of Google’s ₹87,520 crore AI data center investment in Visakhapatnam, which aligns with the region’s growing IT ecosystem.
To oversee progress efficiently, three IAS officers will be appointed to manage development across the state’s three economic corridors. Ahead of the upcoming CII Partnership Summit in Visakhapatnam on November 14-15, Naidu directed officials to utilize central government incentives actively and ensure foundations are laid for select companies to attract further investments and accelerate growth.
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