Andhra Pradesh secures ₹9.88 lakh crore investment commitments at CII Partnership Summit in Vizag
A.P. government will implement Investment Protection Act with retrospective effect from 2024, says Chief Minister Naidu
Andhra Pradesh's Chief Minister, N. Chandrababu Naidu, announced an investment protection act with retrospective effect from 2024 and real-time clearance provisions for industries during the 31st CII Partnership Summit in Vizag. Naidu emphasized the need for good governance and investors' reassurance, particularly after the state's bifurcation between 2019 and 2024.
The government aims to facilitate businesses while ensuring accountability for the support received, and is reducing compliance burdens to make doing business easier. The state attracted investments of ₹9.88 lakh crore through 303 MoUs during the summit, potentially generating 3.49 lakh jobs across sectors. Since June 2024, cumulative investments have reached ₹32.49 lakh crore.
The government is focusing on making agriculture resilient and developing the space sector around India's only spaceport at Sriharikota.
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