Nara Lokesh pitches Andhra Pradesh as investment destination at CII Summit

Visakhapatnam: Andhra Pradesh on Thursday invited companies to invest, set up factories and shift their headquarters to the state, citing the vast business opportunities it offers.

Addressing the CII Partnership Summit here, Andhra Pradesh Minister for Information Technology, Electronics and Communications, and Human Resources Development Nara Lokesh said the state’s beautiful coastline, connectivity and talent were among the reasons for companies to shift their offices to Andhra Pradesh.

“Do not just build factories, move your headquarters here….My invitation is that invest here and innovate here….Our doors are always open for you,” Lokesh said.

He said several major companies, including LG Electronics and Google, were investing in the state.

Lokesh said the state’s ‘3S’ mantra — speed, stability and services — was a key factor attracting domestic and global companies to invest in Andhra Pradesh.

“Once we shake hands (with a company), it is our project,” he said, adding, “We do not keep you (industry) waiting; we ensure commercial production happens.”

He said, “At this summit, we are talking about trade, technology and trust. In Andhra Pradesh, we want to give these three words a concrete shape and transform them into investments, partnerships and opportunities.”

Andhra Pradesh has a coastline of more than 1,000 kilometres. Visakhapatnam is a major port, along with other ports in the state, and currently handles approximately 100 million tonnes of cargo annually, he said.

“Four new greenfield ports are under construction at Ramayapatnam, Mulapeta, Machilipatnam and Kakinada. With these additions, our cargo-handling capacity is set to double,” he added.

Highlighting the investment opportunities offered by the state, Lokesh said, “I am delighted to share that since June 2024, Andhra Pradesh has received investment commitments worth Rs 22.6 lakh crore. More importantly, 73 per cent of these commitments have been converted into approved projects. These projects are worth Rs 17.2 lakh crore and are expected to generate employment for 12.7 lakh people.”