Business EconomyPosted at: Nov 13 2026 12:26AM


AP to enact Investment Prorection Act, targets Rs 32.49 lakh crore investments: CM Naidu

Visakhapatnam, Nov 12 (UNI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday announced that his government would enact an Investment Protection Act to safeguard investors' interests, as the State set an ambitious target of attracting investments worth Rs 32.49 lakh crore since June 2024.
Addressing the inaugural session of the 31st CII Partnership Summit 2026 here, Naidu said a Bill on the proposed legislation would first be introduced in the State Assembly and subsequently sent to the Centre.
The Chief Minister announced that 303 Memoranda of Understanding (MoUs), involving proposed investments of Rs 9.89 lakh crore, would be signed during the two-day summit. With these proposals, the State's total investment commitments since June 2024 would reach Rs 32.49 lakh crore.
Presenting the State's industrial development roadmap, he said Andhra Pradesh had received 714 project proposals worth Rs 22.60 lakh crore before the summit.
Of these, 526 projects involving Rs 17.10 lakh crore had secured land and incentive approvals, while 303 projects worth Rs 7.30 lakh crore were ready to enter the construction stage, he said.
Emphasising the government's focus on speedy industrial clearances, Naidu said Andhra Pradesh was implementing a 12X Speed of Approvals mechanism.
Citing examples, he said the AMCA defence project received approvals and land allocation within 36 days, while LG Electronics was preparing to commence production within 19 months.
The State was positioning itself as a major manufacturing and technology hub, with priority sectors including critical minerals, steel, solar energy, defence, space technology, semiconductors, logistics, quantum computing, green hydrogen and maritime development, he said..
Naidu said Andhra Pradesh had set a target of 160 GW renewable energy capacity, with approvals already granted for 114 GW. The State was also targeting annual electronics production worth Rs 4.20 lakh crore and investments of Rs 50,000 crore in aerospace and defence and Rs 25,000 crore in the space sector.
Approvals had 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 had also received approval, he said.
The Chief Minister announced that Amaravati would emerge as a hub for quantum computing, with a dedicated manufacturing facility spread over 250 acres.
Describing Amaravati Quantum Valley as the first such initiative in South Asia, he said it would be inaugurated on February 3, 2027. 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. Drones were already being used to deliver medicines to remote areas, he added.
The State was also targeting Rs 30,000 crore in investments in food processing and allied industries, while Tirupati would be developed as a global semiconductor chip design hub.
Highlighting infrastructure development, Naidu said Andhra Pradesh had six operational ports with an annual cargo-handling capacity of 346 million tonnes, which handled 209 million tonnes during 2025-26. Four new ports were expected to add another 108 million tonnes of annual capacity.
The State had six airports with a combined annual passenger-handling capacity of 1.55 crore, while nine greenfield airports were planned. Bhogapuram, Amaravati and Tirupati would be developed as major aviation hubs.
He also referred to proposed high-speed rail corridors spanning 839 km and a railway connectivity plan covering 4,415 km, saying the State was emerging as a major logistics destination.
On water security, Naidu said the government was pursuing river interlinking projects to meet agricultural, drinking water and industrial requirements.
The Godavari's right and left canals could supply water to Visakhapatnam and Amaravati, while the proposed Godavari-Cauvery river-linking initiative could address the water needs of five States, he said.
He said the Polavaram project was targeted for dedication to the nation by June 2027.
Drawing a parallel with the national electricity grid, he advocated the development of a water grid to ensure equitable distribution of water resources.
The Chief Minister said 25 sector-specific industrial parks were being developed across the State, including a chemical park in Srikakulam, a MedTech hub in Visakhapatnam and steel ancillary industries and rare earth mineral facilities in Anakapalli.
Describing Amaravati as a Blue-Green Capital City, he said the government was developing the capital with modern infrastructure and iconic buildings.
He invited industrialists and global business leaders to make Amaravati their second home and participate in the State's development.
Reaffirming the government's commitment to Swarna Andhra Vision 2047, Naidu called upon investors, technology leaders and industrialists to take advantage of the State's infrastructure, natural resources and industrial policies.
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Tags: #AP to enact Investment Prorection Act# targets Rs 32.49 lakh crore investments: CM Naidu
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