A.P. to Sign Rs 9.8 Lakh-Crore Investment Deals at Visakhapatnam Summit
IT and Human Resources Development Minister Nara Lokesh said the State government’s investment strategy is focused on improving the “Speed of Doing Business,” which he identified as a key factor drawing industries to Andhra Pradesh. He said companies continue to choose the State because of the policy environment shaped under Chief Minister N. Chandrababu Naidu.
Speaking to reporters, Mr. Lokesh pointed to recent investment commitments from Google and ArcelorMittal. He announced that Visakhapatnam will host the CII Partnership Summit 2025 on November 14 and 15. The government expects 410 MoUs worth Rs 9.80 lakh crore to be signed at the summit, with the potential to create about 7.5 lakh jobs.
Mr. Lokesh said the summit is intended to promote cooperation between the government, industry, and the public so that development benefits are widely shared.
The summit will also see the laying of foundation stones for projects involving Rs 2.70 lakh crore in investment. The two-day event will feature 48 sessions, including a plenary session, 27 technical sessions, and 11 State-specific discussions. More than 300 delegates from 45 countries, including G20 member nations, are expected to attend. Seventy-two international speakers will participate, addressing sector opportunities in Andhra Pradesh.
Mr. Lokesh said competition among States to secure investment is healthy and strengthens the national economy. He noted increasing interest in renewable energy, semiconductors, electronics, steel, ports, agri-tech, drone technology, artificial intelligence, and quantum fields. Skill development is being prioritized to prepare youth for emerging industries.
Responding to concerns regarding the proposed AM/NS steel plant near Anakapalli and its possible impact on the Visakhapatnam Steel Plant (VSP), Mr. Lokesh said competition encourages improved performance. He said the State government opposed the privatisation of VSP and worked with the Centre to support its revival. On the issue of contract workers, he said steel production is a commercial operation and decisions are made accordingly.