Rs 23 lakh cr investments attracted in 2 years will create 23 lakh jobs: Andhra government

Amaravati: Various companies have expressed interest to invest Rs 23 lakh crore in Andhra Pradesh in the past two years, which will lead to the creation of 23 lakh jobs, the state government said on Tuesday.

The industrial face of Andhra Pradesh is changing rapidly under the leadership of Chief Minister N Chandrababu Naidu, said an official press release on Tuesday.

"Various companies have expressed interest to invest Rs 23 lakh crore in Andhra Pradesh in the past two years, which will lead to the creation of 23 lakh jobs," it said.


Since the time of coming to power, the NDA coalition government's initiatives have attracted large number of industries, especially with Chief Minister N Chandrababu Naidu implementing "Speed of Doing Business", the release said.

In two years' time, 800 companies have evinced interest to invest in the southern state. Out of the Rs 23 lakh crore investment pledges, Rs 21.6 lakh crore are coming in the form of Memoranda of Understanding (MoU), said the press release.

The catchphrase that ''Andhra Pradesh is Back'' is reverberating across the country, even as 25.3 percent of all FDI in the country was cornered by the southern state, it added.

The Rs 16,000-crore Advanced Medium Combat Aircraft (AMCA) programme infrastructure project started its work in the state in just 36 days while Naidu discussed with Prime Minister Narendra Modi to amend rules to attract Google AI data centre, it said.

It was announced that lakhs of crores of rupees of investments were won earlier, said the press release, hinting at the erstwhile YSRCP government between 2019 and 2024 but claimed that not even a single rupee trickled in.

Out of the MoUs inked under the NDA government, more than 60 percent have crossed the stage of submitting detailed project reports (DPRs) to reach the grounding stage, said the press release.

Devising policies to attract investments and moving forward has raised industrialists' faith in Andhra Pradesh, among other initiatives, the press release added.