The Andhra Pradesh cabinet, under the leadership of Chief Minister N Chandrababu Naidu, approved a series of investment proposals worth ₹85,083 crore, aiming to generate 33,966 new jobs across the state. The decision, taken during the first meeting of the State Investment Promotion Board (SIPB) held on Tuesday, underscores the government’s commitment to fostering industrial development and addressing unemployment.
An official statement from the Chief Minister’s Office highlighted the transformative potential of these investments in driving economic growth and creating job opportunities. The SIPB meeting reviewed and finalized the projects for which Memorandums of Understanding (MoUs) had been signed with various companies over the past five months.
Among the high-value projects is the ₹61,780 crore investment by ArcelorMittal-Nippon Steel to establish an integrated steel plant at Bagaraiahpeta near JV Nakkapalli, creating approximately 21,000 jobs. LG Electronics India Pvt Ltd will invest ₹5,001 crore, generating 1,495 jobs, while Kalyani Strategic Systems Ltd will invest ₹1,430 crore, providing 565 jobs. Additionally, Phillips Carbon Black Ltd plans a ₹3,798 crore project, creating 200 jobs, and Azad India Mobility Ltd will invest ₹1,046 crore, offering 2,381 employment opportunities.
Policy and Legislative Updates
The cabinet approved key amendments to the Andhra Pradesh Preventive Detention Act, aimed at enhancing the state police’s ability to combat organized crime. It also announced the creation of an elite anti-narcotics task force, EAGLE, dedicated to preventing the smuggling and consumption of narcotics.
In a move to expedite pending infrastructure projects, the cabinet endorsed the recommendations of the technical committee on Amaravati capital city works and approved the issuance of fresh tenders to complete them.
The cabinet further approved new sports and tourism policies, granting the tourism sector industry status and extending industry-level incentives.
Another significant decision was the repeal of the judicial preview policy, introduced by the previous YSR Congress Party (YSRCP) government for tenders exceeding ₹100 crore, to streamline the tendering process.
These decisions highlight the state government’s strategic focus on industrial growth, infrastructure development, and policy reforms to position Andhra Pradesh as a hub for investment and innovation.
