Vishakhapatnam, Nov 12 Andhra Pradesh Chief Minister Chandrababu Naidu on Thursday announced that the state will formulate an investment protection law to protect the interests of investors and urged Commerce and Industry Minister Piyush Goyal to support the law at the Centre.
“I am bringing an Investment Protection Act to safeguard investors from regime changes and political vendetta. The Centre must support it,” he said addressing a session of the CII Partnership Summit here.
Naidu called for the introduction of a Central Investment Protection Act to provide greater security and confidence to investors across the country.
He said concerns over regime changes and vindictive politics were creating apprehensions among investors.
His government was preparing a state-level Investment Protection Act and would send the Bill to the Centre after its passage in the Assembly, Naidu said.
He urged Goyal, who is the chair of the summit, to take up the proposal with the central government and work towards converting it into a national law.
The Chief Minister expressed confidence that a Central Act offering protection to investors would encourage a stronger flow of investments into India and attract global investors.
Naidu also explained the investment opportunities, industrial policies and long-term development vision of the state through a power-point presentation.
Highlighting the state’s focus on emerging and strategic sectors, he said Andhra Pradesh was working towards becoming a major manufacturing and technology hub in areas such as rare earth minerals, steel production, solar wafers, solar energy and battery energy storage.
The state has identified several priority sectors, including the critical minerals mission, steel policy, solar mission, defence self-reliance, space vision, semiconductor mission, logistics policy, quantum technology, green hydrogen and maritime development.
The Chief Minister said a quantum computer would be established in Amaravati, while quantum equipment would also be manufactured under the ‘Made in Amaravati’ brand.
A dedicated Drone City was being developed to manufacture drones for civilian and defence applications, he said adding Andhra Pradesh aimed to emerge as a global horticulture hub by attracting investments in food processing and allied industries.
To bring investments on the ground, Andhra Pradesh was granting speedy approvals, he said and cited the Kia automobile manufacturing unit as a successful example of the state’s Speed of Doing Business policy.
The AMCA defence project was granted approvals and land allocation within just 36 days, while LG Electronics was preparing to commence production within 19 months.
Naidu also outlined ambitious targets across key sectors such as renewable energy and electronics.
A target of 160 GW renewable energy generation capacity has been set, with approvals already granted for 114 GW.
The state aims to achieve annual electronics production worth Rs 4.20 lakh crore. Projects worth about Rs 31,926 crore have already received approvals in electronics and home appliances manufacturing.
For aerospace and defence, an investment target of Rs 50,000 crore has been set, along with a separate target of Rs 25,000 crore for the space sector.
According to an official statement, approvals have been granted for 42 GW of solar cell manufacturing capacity and 53 GW of ingot and wafer manufacturing capacity.
Data centre projects with a proposed capacity of 4.6 GW have received approval in the state, against the existing national installed capacity of about 1.5 GW.
A quantum computing manufacturing facility would be established across 250 acres in Amaravati, he informed.
Describing Amaravati Quantum Valley as the first such project in South Asia, Naidu announced that it would be inaugurated on February 3, 2027.
He added that plans were underway to develop nine greenfield airports, with Bhogapuram, Amaravati and Tirupati as major aviation hubs.
He also highlighted the proposed 839-km high-speed rail corridors passing through Andhra Pradesh, along with an extensive 4,415-km railway connectivity plan.
He said the Godavari’s right and left canals could supply water to Visakhapatnam and Amaravati, while also creating opportunities to transfer water towards the neighbouring Cauvery basin.
The proposed Godavari-Cauvery river-linking initiative would help address the water needs of five states, he said.
The Chief Minister said 25 sector-specific industrial parks were being developed across Andhra Pradesh to promote focused industrial growth.
Key locations and sectors identified include Srikakulam Chemical Park, Visakhapatnam MedTech, Anakapalli Steel ancillary industries and rare earth minerals, AI data centres and other emerging industrial sectors.
He said Tirupati would be developed as a global semiconductor chip design capital.
(PTI News)
