Andhra govt clears Rs 31,167 cr investments, eyes 32,000 jobs across sectors

The fifth meeting of the State Investment Promotion Board (SIPB) of Andhra Pradesh, chaired by Chief Minister N Chandrababu Naidu on Thursday, approved investment proposals worth Rs 31,167 crore from 17 entities, with the potential to generate 32,633 jobs. The approved proposals span sectors such as food processing, IT, energy, and others, according to an official release.

"SIPB approved investments from 17 organisations. Investments are coming from food processing, IT, energy, and other sectors," the release stated.

Naidu emphasised that attracting investments is as crucial as ensuring their realisation at the grassroots level.


He directed officials to submit a report at the next SIPB meeting detailing materialised investments and the number of people employed.

Meanwhile, State IT Minister Nara Lokesh proposed allocating land to IT companies at nominal rates to attract more players in the sector.

Naidu accepted the proposal and instructed officials to revise the IT policy accordingly.