AP's Economic Surge: ₹1.14 Lakh Cr Boost Approved

At its 11th meeting chaired by Chief Minister N. Chandrababu Naidu, the Andhra Pradesh State Investment Promotion Board (SIPB) approved 30 investment proposals worth over ₹1.14 lakh crore. The approved projects span sectors including information technology, energy, tourism, aerospace, and food processing, and are expected to generate employment for 67,000 people.

A standout proposal is Raiden Infotech India’s ₹87,520 crore data centre project in Visakhapatnam, marking India’s largest single-project FDI. The project will be spread across three campuses and significantly boost the state’s digital infrastructure.

To support rapid industrialisation, the Chief Minister announced the formation of three economic regions and directed officials to expedite infrastructure development and project implementation.

The board also resolved to fast-track the Jindal Steel Plant. With this round of approvals, SIPB has now cleared a cumulative investment of over ₹7 lakh crore, with the potential to create 6.2 lakh jobs across Andhra Pradesh.

News by Rahul Yelligetti.