Andhra Pradesh's Naidu Invites Investment to Showcase Reforms at ET Awards
ET Awards: Come to Andhra to witness first-hand how the reforms are working, Chandrababu Naidu says
The Economic TimesImage: The Economic Times
N Chandrababu Naidu, Chief Minister of Andhra Pradesh, urged the corporate sector to invest in the state during the ET Awards, where he was recognized as 'Business Reformer of the Year.' He highlighted reforms aimed at attracting investments, including offering land at low rates and establishing escrow accounts for investors.
- 01Naidu invited corporate investment to showcase Andhra Pradesh's reforms.
- 02He was awarded 'Business Reformer of the Year' at the ET Awards.
- 03The state offers land at 99 paise per acre for IT companies.
- 04Google announced a $15 billion investment in a data center in Visakhapatnam.
- 05Naidu's policies are attracting investments from neighboring states.
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N Chandrababu Naidu, the Chief Minister of Andhra Pradesh, called on the corporate sector to invest in the state during the ET Awards ceremony, where he received the title of 'Business Reformer of the Year.' He emphasized the effectiveness of reforms implemented since he took office in June 2024, aimed at transforming Andhra Pradesh into a prime investment destination. Key initiatives include offering land at 99 paise per acre to IT companies and establishing escrow accounts to streamline investment processes. Naidu noted that these reforms have successfully attracted significant investments, such as Google’s announcement of a $15 billion Foreign Direct Investment (FDI) in a data center cluster in Visakhapatnam. His policies have not only drawn investments from neighboring states but also fostered competition among southern states. The influx of investments is also supporting welfare programs, including financial assistance for underprivileged women and farmers. Sajjan Jindal, accepting the 'Business Leader of the Year' award, shared his philosophy of viewing business as participation in India's growth story, underscoring the importance of workmen in achieving success.
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The reforms and investments are likely to create jobs and improve infrastructure in Andhra Pradesh, benefiting local communities and boosting the economy.
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