Andhra Pradesh Chief Minister N Chandrababu Naidu announced on Friday that the state government had signed 303 memorandums of understanding with a combined value of ₹9.89 lakh crore during the 31st CII Partnership Summit in Visakhapatnam. The Hindu reported the total value, while ThePrint noted that 109 MoUs worth ₹9.02 lakh crore were signed, potentially creating over two lakh jobs. Naidu stated the government would implement an Investment Protection Act with retrospective effect from 2024 to ease business operations.
The commitments mark a significant increase from previous events. Naidu highlighted that the state secured ₹32.5 lakh crore across the last two CII Partnership Summits, noting that 74 per cent of previous agreements had been converted. He expressed a target of achieving a 100 per cent conversion rate. The Hindu BusinessLine reported that Kia India committed ₹18,800 crore to manufacture an additional 2 lakh cars annually. ThePrint identified large commitments from Reliance Industries, Greenko Energies, CleanMax, Megha Engineering, and Indian Oil Corporation.
Specific infrastructure projects were also detailed. The Hindu BusinessLine reported that Blackstone-backed AirTrunk filed plans for two hyperscale data centre campuses involving ₹1.03 lakh crore. The proposal, with 1.8 gigawatts capacity, remains under consideration by state authorities. The company stated it would use low-water, air-cooled technology and industrial water supplies. ThePrint reported that space tech firms Agnikul Cosmos and Hathor Rockets proposed investments of ₹510 crore and ₹250 crore respectively.
Vice President C P Radhakrishnan addressed the valedictory session, asserting India aspires to lead the global economic order. He praised Andhra Pradesh for attracting 714 investment projects worth over ₹22 lakh crore since June 2024. Radhakrishnan noted the state’s Swarna Andhra 2047 vision aligns with the Prime Minister’s Viksit Bharat 2047 vision. He emphasized that investments in green energy, artificial intelligence, semiconductors, and quantum technology are positioning the state as an industrial hub. Union Ministers Pralhad Joshi and Kinjarapu Ram Mohan Naidu were present.