Andhra Pradesh Chief Minister N. Chandrababu Naidu reaffirmed that every Memorandum of Understanding (MoU) signed during the 30th CII Partnership Summit was with investors who have shown genuine intent and long-term commitment toward the State’s growth.
Speaking at the closing press conference of the two-day summit, the Chief Minister said the new coalition government has revived the business environment after a difficult period between 2019 and 2024, when investment sentiment was low and many industries moved out of the State.
Following the keynote address by Hon’ble Minister Kondapalli Srinivas, the summit convened a high-level panel featuring distinguished leaders from industry and global institutions. The panel comprised Mr. Thomas John Muthoot, Chairman of the CII Southern Region and Chairman & Managing Director of Muthoot Fincorp Ltd.; Mr. M. Ponnuswami, Co-Chairman of the CII National MSME Council and CMD, Pon Pure Chemical India Pvt. Ltd.; Mr. Philipp Assmus, CEO and Founder, FyrstGen, Switzerland; Mr. Prasad Maganti, Founder and CEO, Maganti IT, United States; Mr. Tammireddy Siva Sankara Rao, Chairman, Andhra Pradesh MSME Development Corporation; Mr. Ritin Koria, Project Specialist, United Nations Industrial Development Organization (UNIDO); and Mr. Ameya Prabhu, Co-Chairman, CII International Council and Founder & CEO, NAFA Capital Advisors Pvt. Ltd, Milan Patnaik Corporate Legal and Financial advisor, Project & Foreign company collaboration, and Executive Director of Aviation and Aerospace India and Renewal energy Company, Koppu Guranna & Sons Chairman Sri Koppu V. Chiranjeevi Rao, Managing Director Sri Koppu V. Hanumanth Rao, and General Manager Sri M. K. Janardhan Rao were present at the event. The experts shared forward-looking perspectives on MSME development, international collaboration, digital transformation, and industry innovation, reinforcing the summit’s commitment to accelerating sustainable economic growth in Andhra Pradesh.
₹13.25 Lakh Crore Investment Mobilised at Summit
Mr. Naidu announced that the summit attracted a record ₹13,25,617 crore in investment commitments across sectors. Prominent global entities, including the Government of Singapore, participated actively. While Singapore will not directly take part in constructing Amaravati, it has offered strategic cooperation to transform Andhra Pradesh into a knowledge-driven economy.
Google Chooses Visakhapatnam for New Data Centre
Highlighting Andhra Pradesh’s global competitiveness, the Chief Minister stated that companies like Google prefer the State due to its advanced backend infrastructure.
The proposed Google data centre in Visakhapatnam has seen minor delays, but the project remains firmly on track.
Balanced Development Across Three Growth Regions
To ensure equal progress, the government has deliberately spread investments across:
- Visakhapatnam
- Amaravati
- Tirupati
This approach, Mr. Naidu said, will promote balanced regional development supported by clear execution timelines.
Sovereign Guarantees to Build Investor Confidence
Reiterating the State’s seriousness in attracting capital, the Chief Minister said the government is ready to offer sovereign guarantees to large investors. This will provide a sense of safety and strengthen investor confidence.
Infrastructure Expansion to Support Massive Investments
Responding to questions on infrastructure readiness, Mr. Naidu said that AP already possesses robust foundational infrastructure.
“The investment inflow will revive the economy. GST earnings and employment-driven revenue will be reinvested to create more infrastructure and industrial incentives,” he noted.
The State is also working on east-west logistics connectivity, linking coastal regions to western and central India.
Visakhapatnam Steel Plant Revival: Strong Commitment
On the issue of the Visakhapatnam Steel Plant (VSP), the CM said both the State and Union governments have displayed firm commitment to reviving the plant.
He emphasised that VSP must boost its internal efficiency and reduce dependency on government support for long-term sustainability.
Conclusion
The 30th CII Partnership Summit marks a major leap for Andhra Pradesh’s economic revival, attracting serious investors, global corporations, and strategic partners. With a focus on infrastructure, balanced development, and policy stability, the State aims to convert all signed MoUs into operational projects within three years, strengthening AP’s position as a national investment hub.
