Amaravati, June 18: The Andhra Pradesh State Investment Promotion Board (SIPB) approved proposals from 50 companies on Thursday, involving a total investment of ₹30,515 crores. These projects are expected to generate 29,677 jobs across the state.
During the 18th SIPB meeting, Chief Minister N. Chandrababu Naidu instructed officials to ensure that the benefits of development reach poor and middle-class families. He emphasized creating an industrial ecosystem in the state that allows not just wealthy entrepreneurs but also ordinary citizens to participate in industries and businesses.
Naidu noted the rapid industrial growth in Andhra Pradesh and stressed that its benefits should directly reach the public. He advocated for strong support for startups and attracting venture capital investment for new businesses by utilizing the government’s innovation schemes.
The Chief Minister also directed the education department to align curricula with the needs of upcoming industries. He highlighted the importance of introducing advanced technical courses like robotics and preparing students for future industrial requirements.
He warned that non-serious investors would not be tolerated and instructed officials to closely monitor approved projects to ensure timely completion. Naidu also underscored the significance of expanding ethanol production, mentioning that the central government has approved a 40% ethanol blending target. Promoting ethanol industries will benefit farmers and reduce the country’s dependence on imported fuels.
Additionally, he emphasized renewable energy projects such as biofuels, semiconductor manufacturing, lithium-ion battery production, fast-charging EV battery technology, data centers, solar, wind, pumped storage, and battery energy storage systems.
Naidu stated that Andhra Pradesh must prepare for future electricity demands and develop power infrastructure that supports industrial expansion. He mentioned that promoting the manufacturing of irrigation equipment would lower costs for farmers and boost horticulture and floriculture sectors.
He advocated for an automated approval system for industrial projects and land allocation to minimize political interference. Projects that comply with regulations should receive approvals through a transparent and automated process.
Naidu also stressed the need to develop an ecosystem around the proposed Quantum Valley in Amaravati, which would include technology parks, quantum application development, and quantum computing equipment manufacturing.
He highlighted the growing automobile sector in Andhra Pradesh, featuring companies like Royal Enfield, Isuzu Motors, Hero MotoCorp, and Kia Corporation. He urged for the rapid establishment of a fifth-generation fighter jet manufacturing and testing facility in Puttaparthi, envisioning the Bengaluru-Puttaparthi region as a major defense and aerospace corridor. Naidu instructed to expedite hotel and resort projects to promote tourism.
State Minister Nara Lokesh stated that government incentives and concessions should only be provided once projects are operational. He noted that the state earns revenue from GST and other taxes after industries commence operations, making this approach more effective.
Lokesh also mentioned that ITIs and polytechnic colleges are being linked with local industries to enhance skill development. He announced plans to establish a Center of Excellence for rare earth minerals research at Andhra University and cited Russia’s successful quantum technology model as an example for Andhra Pradesh. The meeting was attended by several ministers, senior government officials, and Chief Secretary Sai Prasad.
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