AMARAVATI — Andhra Pradesh has set an ambitious goal of attracting one trillion dollars in global and domestic investment, state Minister for Education and Information Technology Nara Lokesh announced on Wednesday.
Speaking ahead of the Confederation of Indian Industry (CII) Partnership Summit in Visakhapatnam, scheduled for November 14–15, Lokesh said the state had already secured $120 billion in investments over the past 16 months. He credited the surge to “stability, speed, and an investor-first approach.”
“These are not symbolic MoUs. They represent real, on-ground projects that are creating employment and transforming regional economies,” the minister said.
During the summit, 410 investment agreements worth $120 billion are expected to be formalized, potentially generating about 750,000 new jobs. Groundbreaking ceremonies for projects valued at Rs 2.7 lakh crore will also take place, he added.
Addressing a press conference in New Delhi, Lokesh outlined the state’s business-friendly policies, governance reforms, and youth-focused economic strategy. “Our goal is to create two million jobs over five years — not just as a target, but as a commitment to our youth. Every policy is designed to fuel job creation,” he said.
Highlighting recent marquee investments, Lokesh noted that India’s largest steel producer has chosen Andhra Pradesh for expansion, while Google is setting up its biggest foreign direct investment project in the country — the Google Data City in Visakhapatnam.
He further said that Bharat Petroleum Corporation Limited (BPCL) is establishing a Rs 1 lakh crore refinery project, and the National Thermal Power Corporation (NTPC) is developing a Rs 1.65 lakh crore green hydrogen hub in the state. Five of India’s top ten solar manufacturing companies have also selected Andhra Pradesh as their base of operations.
Lokesh described the state’s growth model as being built on the “Speed of Doing Business.” “In today’s economy, agility is everything. Even a month’s delay can alter an entire investment plan. We ensure projects move from intent to implementation at record pace,” he said.
Andhra Pradesh’s investment push spans multiple sectors, including information technology, manufacturing, hospitality, and tourism. The state, one of the first in India to officially recognize tourism as an industry, plans to add 50,000 hotel rooms within the next three years as part of its broader economic expansion strategy. (Source: IANS)
