DELHI/VIJAYAWADA: Andhra Pradesh has set an ambitious goal of attracting one trillion dollars in global and domestic investments, Minister for HRD and IT Nara Lokesh announced in Delhi on Wednesday.
Addressing a press conference ahead of the CII Partnership Summit scheduled in Visakhapatnam on November 14 and 15, Lokesh said the State has already secured $120 billion in investments over the past 16 months.
Outlining Andhra Pradesh’s investor-friendly climate, governance reforms, and youth-centric growth strategy, Lokesh said the State’s development is rooted in employment generation. “Our goal is to create two million jobs over the next five years, not just as a target but as a commitment to our youth. Every policy is designed to fuel job creation,” he stated.
Lokesh highlighted that Andhra Pradesh’s new model—the “Speed of Doing Business,” (SoDB) is transforming its investment ecosystem.
“In today’s economy, agility defines success. Even a month’s delay can derail a project. We ensure proposals move from intent to implementation swiftly,” he said.
This approach, he noted, has drawn major investments from companies such as TCS and Cognizant across IT, manufacturing, hospitality, and tourism sectors. AP, one of the first states to recognise tourism as an industry, aims to add 50,000 hotel rooms within three years.
Explaining why investors are choosing the State, Lokesh said, “Our edge lies in speed, regulatory efficiency, and visionary leadership under Chief Minister N Chandrababu Naidu. With his experience and commitment, Andhra Pradesh operates as a double-engine bullet-train government under the NAMO leadership of Naidu and Modi.”
Aligned with the national Viksit Bharat vision, Andhra Pradesh aims to become a $2.4 trillion economy by 2047.
On the upcoming summit, Lokesh said the CII Partnership Summit will act as a global platform for collaboration in areas such as quantum technologies, artificial intelligence, and materials science. The two-day event will host 48 sessions, including 27 technical panels and 11 state-focused forums, with participation from over 300 delegates representing 45 countries and 12 international organisations.
He said 410 investment agreements worth $120 billion will be formalised at the summit, creating around 7.5 lakh jobs. Groundbreaking ceremonies for projects worth Rs 2.7 lakh crore will also take place.
Concluding, Lokesh said, “Healthy competition among states drives national progress. Our CM’s vision is clear, to make Andhra Pradesh a global hub for sustainable and inclusive industrial growth.”