TIRUPATI: Chief Minister N Chandrababu Naidu on Wednesday said the State is emerging as one of India’s most attractive investment destinations and assured Hero MotoCorp of full government support for its manufacturing and business activities.
CM laid foundation stone for Hero MotoCorp Global Parts Centre (GPC) 2.0 at Madannapalem village in Varadaiahpalem mandal of Tirupati district.
The new facility will be set up with investment of Rs 750 crore. Chandrababu Naidu paid rich tributes to Hero MotoCorp Founder and Chairman Emeritus Dr. Brijmohan Lall Munjal on his 103rd birth anniversary. Addressing the gathering CM described Dr Brijmohan Lall Munjal as “not just an industrialist, but a nation builder.”
Recalling his long association with the Munjal family, the Chief Minister said he had personally persuaded the company to establish its manufacturing base in the State of Andhra Pradesh, leading to the foundation of the Tirupati plant in 2018.
He expressed satisfaction that the facility has since grown into one of Hero MotoCorp’s major manufacturing hubs.
Naidu said Andhra Pradesh offers unmatched advantages in logistics, green energy, industrial infrastructure and skilled manpower, making it the ideal location for global manufacturing.
He said the state is rapidly transitioning into a hub for electric mobility and renewable energy,with 160 GW of the country’s proposed 500 GW green energy capacity expected to come from Andhra Pradesh.
The Chief Minister said Hero MotoCorp’s proposed investment of Rs 3,200 crore would strengthen the state’s industrial ecosystem and create long-term employment opportunities.
Stressing that the future belongs to electric vehicles powered by green energy, he said Andhra Pradesh is fully prepared to support industries with quality infrastructure,reliable power, abundant water, efficient logistics and speedy approvals.
Highlighting the state’s investment climate, Naidu said Andhra Pradesh attracted nearly 25 per cent of India’s total investments during the past year.
Over the last two years, the State has secured investment commitments worth more than Rs 20 lakh crore, with projects already approved worth around Rs 11.72 lakh crore, expected to generate over 10.32 lakh jobs. He assured investors that once a project is committed, the government treats it as its own and monitors implementation in real time to ensure speedy execution.
The Chief Minister also underlined Andhra Pradesh’s strengths, including its 1,000-km coastline, expanding ports, national highways, railway connectivity, airports, skilled workforce and investor-friendly land policies.
He said the government has now moved beyond “Ease of Doing Business” and is focusing on “Speed of Doing Business” to facilitate faster industrial growth.
Speaking on the occasion, Hero MotoCorp Executive Chairman Dr Pawan Munjal said the launch of the second Global Parts Centre in Tirupati was dedicated to the 103rd birth anniversary of founder Dr. Brijmohan Lall Munjal.
He said Hero MotoCorp has remained the world’s largest two-wheeler manufacturer for 25 consecutive years since 2001 and has increased its annual production from 4.9 million vehicles in FY22 to over 6.5 million units in FY26.
Munjal said Hero MotoCorp has invested more than Rs 1,500 crore in AP since setting up its Tirupati manufacturing facility in 2018. The plant has crossed the milestone of producing its one millionth vehicle.