No better investment destination than Andhra: CM Naidu

Amaravati, Jan 20 (PTI) Chief Minister N Chandrababu Naidu on Tuesday said there was "no better investment destination" than Andhra Pradesh, asserting that the state would emerge as the largest market for industrialists.

Addressing a Confederation of Indian Industry (CII) breakfast session titled ‘The Andhra Pradesh Advantage’ at the World Economic Forum (WEF) here, Naidu invited global industrialists to visit the state and assess its business-friendly policies firsthand.

"There is no better investment destination than Andhra. The state will become the biggest market for industrialists," Naidu said in a press release here, adding that investors could take informed decisions only after experiencing the state’s "speed of doing business".

Reiterating that India would rise as a global power by 2047, he said Andhra would play a pivotal role in that journey.

He added that the state had secured nearly 25 per cent of all foreign investment pledges made in the country.

Highlighting investment opportunities in sectors such as green energy, technology, fuel, digital infrastructure, logistics and manufacturing, the TDP chief also outlined state policies aimed at attracting investments across multiple sectors.

Referring to Andhra's growing brand image, Naidu cited major investments such as the proposed USD 15 billion Google AI data centre in Visakhapatnam and projects in green ammonia.

A USD 10-billion green hydrogen and green ammonia project in the port city of Kakinada is set to reach a key construction milestone with the erection of its first major equipment, underscoring India’s push to emerge as a supplier of green energy to global markets, including Germany, Japan and Singapore.

It is expected to generate up to 8,000 jobs during construction, along with substantial high-skill employment during operations and across allied sectors such as renewable energy, logistics, storage and port services.

Naidu further said the state was focused on developing a space city, strengthening port and airport infrastructure, and expanding highway connectivity.

According to the CM, Andhra's 1,054-km-long coastline, along with its ports and airports, constitutes a major strategic advantage.

Naidu also said the state government was working towards promoting natural farming across 50 lakh acres over the next three to four years. PTI STH SSK