Andhra Pradesh CM Chandrababu Naidu Assures Global Investors Of Speedy Investment Clearances

Visakhapatnam: Inviting global investors to invest in Andhra Pradesh, Chief Minister N. Chandrababu Naidu on Thursday assured them of speedy clearances and all the support from the government. Participating in India Europe Business Partnership Roundtable organised here on Thursday as part of the CII Partnership Summit, he said that Andhra Pradesh is a gateway for India’s market with abundant investment opportunities in various sectors.

“If any one comes forward for investment, the government will provide an escort officer to follow up their applications for setting up of industries in the state,” he said. The Chief Minister said that Visakhapatnam is going to emerge as global IT hub as Google is going to set up an AI data centre here with an investment of $15 billion and sub-sea cables will be laid connecting Singapore.

Andhra Pradesh has been promoting industries in a big way and as part of it adopted speed of doing business and clearing applications within 45 days. Citing a recent example, the Chief Minister said Premier Energy got clearances within 45 days with a single phone call. Likewise, Reliance is setting its second-largest brewery globally with clearances given within a month. It is planning to start production from February.

The Chief Minister said that the state government is going to develop a drone city for both civil applications and defence sector needs. As per the call given by Prime Minister Narendra Modi to promote space technology in private sector, Andhra Pradesh is planning to develop a space city. CM Naidu told the participants that Andhra Pradesh is strong in the energy sector by producing solar, wind and pumped storage power generation.

He said Andhra Pradesh is going to emerge as a green energy hub. While India set a target to produce 500 GW in green energy Andhra Pradesh decided to produce 160 GW of green energy. Andhra Pradesh is strong in several sectors including AI, Data centres, space, drones, electronics, aerospace and semiconductors. When the Government of India recently announced quantum computing policy, Andhra Pradesh decided to develop quantum valley in Amaravati. He was confident that quantum computer will be produced in Andhra Pradesh in two years.

The Chief Minister believes that India is going to emerge as the number one economy in the world. Praising Prime Minister Modi, the Chief Minister said India has an advantage of a stable government. Earlier welcoming the gathering, Director General, Confederation of Indian Industry, India Chandrajit Banerjee praised Chief Minister Naidu for his visionary outlook and commitment towards economic development of both India and Andhra Pradesh.

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