Shed fear of attrition and invest boldly in Andhra Pradesh, Chief Minister Chandrababu Naidu exhorts industrialists
Andhra Pradesh Chief Minister N. Chandrababu Naidu on Saturday appealed to the industrialists to shed their fear of facing attrition and political involvement, and freely come forward to invest in the State.
Addressing entrepreneurs and a group of industrialists from MNCs, at Paramasamudram, near Kuppam, the Chief Minister assured them of complete support and of creating a business-friendly atmosphere in the State under the present NDA government.
Taking a dig at the previous YSR Congress Party (YSRCP) government, Mr. Naidu alleged that several industries feared investing in the State during 2019-24, while a substantial number of industrialists had backed out.
“It’s a welcome sign that many investors who backed out during the YSRCP government are now returning to boost the economy with all boldness. We have plans to set up vital industrial zones across the State, and we will do everything to boost the confidence of the industrialists,” the Chief Minister said.
On the occasion, six MoUs were signed in the presence of Mr. Naidu, leading to investments of ₹2,000 crore and projecting creation of 18,000 jobs initially.
The companies included AGS–ITC with a 15-year waste-to-wealth programme, SheLeads Foundation to train 10,000 women entrepreneurs, Kings Wood Decor Pvt. Ltd, to set up ₹1,100 crore MDF board unit generating 2,012 jobs, and Pioneer Clean Amps Ltd. to set up a two-seater training aircraft unit at ₹150 crore.
Bengaluru-based Etreal Exploration Guild would invest ₹500 crore for a rocket manufacturing facility, and Red Berry Food Logistics, with a ₹300 crore AgriTech and food processing hub, projecting 15,000 jobs.
The Chief Minister reiterated that the NDA government would always reflect its commitment to strengthen the network of industries in the State, and the current MoUs were a testimony to the government’s vision for balanced development by amalgamating agriculture, industry, and entrepreneurship.
“Kuppam is bound to be a model for rural transformation, focusing on industrial growth and women-led enterprises,” Mr. Naidu said.