Amaravati: In a historic move aimed at boosting industrial growth and employment, the Andhra Pradesh government on Friday approved investment proposals worth ₹1.17 lakh crore. The cabinet meeting, chaired by Chief Minister Chandrababu Naidu, emphasized that these investments would significantly strengthen the state’s economy and position Andhra Pradesh as a major industrial hub, while generating thousands of job opportunities for residents.
The cabinet placed special focus on the development of Visakhapatnam, with Chief Minister Chandrababu outlining plans to transform the city into a leading economic and technology center, comparable to Mumbai. With global tech giants such as Google and TCS setting up operations in the city, the state aims to establish Visakhapatnam as an international IT hub. The approved investments are expected to modernize infrastructure and improve living standards for the city’s residents.
Key decisions were also taken to accelerate construction in Amaravati. Administrative approval was granted for a new Raj Bhavan at an estimated cost of ₹212 crore, and 25% of funds for underground drainage systems in Mangalagiri and Tadepalli Municipal Corporations will be allocated through the CRDA. The cabinet also discussed land allocations for institutions and revisions in government employees’ dearness allowance, reflecting a broader push to strengthen the state capital’s infrastructure.
Chief Minister Chandrababu underscored that ministers must ensure swift implementation of approved investments at the ground level. “Attracting investments is only the first step. It is vital that citizens understand the benefits of these projects and see their impact,” he said. Ministers were instructed to actively engage with the public to raise awareness about government initiatives and development schemes, ensuring transparency and visibility of the state’s growth agenda.