Andhra Pradesh bags ₹9.98 trillion in investment pledges at CII summit

The two-day CII Partnership Summit in Visakhapatnam attracted total investments of ₹9.98 trillion, taking the state's cumulative investment intent since the Telugu Desam Party (TDP) government took charge in June 2024 to ₹32.3 trillion.

On Day 2 of the meet on Friday, state minister for education, IT and electronics Nara Lokesh signed deals with 24 companies involving a total investment of ₹1.05 trillion, creating around 75,055 job opportunities. Among these are an integrated AI data centre project with an investment of ₹31,387 crore by AM AI Factory Ltd and a Panchshil Realty hyperscale data centre with an investment of ₹37,000 crore.

Other major MoUs signed include Waaree Energies' ₹10,000-crore investment creating 1,000 jobs, Smax Digitech India Ltd (AP Sports Village) with an investment of ₹4,270 crore, Archean Group (₹2,000 crore) and AIL Dixon Technologies (₹450 crore).

Lokesh said the government has a clear roadmap on how to develop the state over the coming two decades. "We are working with the belief of making Visakhapatnam the economic powerhouse of the country. Explaining the quantum computing project as an example, the Chief Minister brought forward this idea, brought experts and world-class institutions together and prepared an action plan. As part of that effort, we are going to set up India's first 156-qubit quantum computer in Amaravati," he said.

Investors showed keen interest in investing on a large scale in the aerospace, IT and electronics, data centre, semiconductor, healthcare and renewable energy sectors.

Representatives from more than 58 countries and 15 foreign ministers attended the Partnership Summit. "We held special meetings with representatives from Russia, Japan, Europe and other regions. In the MSME Exhibition, one organisation is manufacturing components needed for quantum computing along with manufacturing heavy machinery equipment. This is proof of the industrial talent in the State. If investment agreements and job creation are one goal, our main aim is to create one entrepreneur from every family," he said.