Andhra Pradesh attracted investment proposals worth ₹22 lakh crore since June 2024: Vice-President

Vice-President C.P. Radhakrishnan receives a warm welcome on his arrival at INS Dega Airport in Visakhapatnam to attend the valedictory session of the 31st CII Partnership Summit 2026 on Friday. | Photo Credit: ANI Vice-President C.P. Radhakrishnan, addressing the valedictory session of the 31st CII Partnership Summit here on Friday, lauded Andhra Pradesh’s rapid development since bifurcation, noting that the State had attracted investments worth ₹22 lakh crore since June 2024. He said the State was making progress towards the goals of ‘Swarna Andhra’ and ‘Viksit Bharat’.Emphasising the summit’s theme, ‘Navigating the New World Order’, he called upon stakeholders to adopt a ‘work together, grow together, share prosperity’ approach. He stressed the need to strengthen domestic manufacturing, MSMEs and digital public infrastructure to enhance global competitiveness.Chief Minister N. Chandrababu Naidu announced major investment commitments, including ₹2.43 lakh crore from Reliance and ₹18,800 crore from Kia to manufacture an additional two lakh cars annually. Highlighting the shift from ‘Ease of Doing Business’ to ‘Speed of Doing Business’, he said the government had abolished the NALA Act, introduced clearances through 13 licences within five days and operationalised an escrow account for industrial incentives. The government also planned to enact an Investment Protection Act. He unveiled the ‘One Family, One AI’ initiative and set a target of 160 GW of renewable energy capacity.Governor S. Abdul Nazeer said cooperative federalism between the Centre and the State had accelerated major infrastructure projects, including Bhogapuram International Airport, the South Coast Railway Zone, the ₹11,440-crore revival of the Visakhapatnam Steel Plant and the Polavaram project, which had achieved over 90% physical progress. Highlighting the State’s potential in green energy, quantum computing at Amaravati and rare-earth magnet manufacturing, he said the summit’s success should ultimately be measured by the jobs created and skills imparted to youth.Union Minister Pralhad Joshi, State Ministers and senior CII office-bearers, including president R. Mukundan, president-designate Suchitra K. Ella and Director-General Chandrajit Banerjee, attended the concluding session.Of the 714 investment proposals received since 2024, 522 are under active implementation across the State. Published - November 13, 2026 07:01 pm IST