Chandrababu Naidu Inaugurates 15 Industrial Projects in Sri City
Andhra Pradesh Chief Minister N. Chandrababu Naidu inaugurated 15 new industrial projects in Sri City with a total investment of Rs 1,570 crore. These projects have the potential to generate 8,480 jobs, marking a significant boost to the region's industrial and employment landscape. Additionally, Naidu laid the foundation stones for seven new projects worth Rs 900 crore, expected to create 2,740 more jobs. On the same day, five companies signed MoUs with the state government, promising investments worth Rs 1,213 crore and creating 4,060 jobs.
During the event, Naidu encouraged industrialists to focus on reducing product and logistics costs, emphasizing Andhra Pradesh’s competitive edge in logistics due to better connectivity and infrastructure. He invited more industries to invest in the state, envisioning Sri City as a leading economic and infrastructure hub. Naidu expressed satisfaction with Sri City’s rapid progress since its inception, noting that it now hosts over 200 companies from 30 countries, all within a single premises. He stressed the importance of maintaining product quality to meet global competition, highlighting that industrial growth is critical to creating wealth and achieving zero poverty, a key goal of the NDA government.
The Chief Minister also discussed the state’s initiatives in hybrid solar and wind power generation, signaling a shift towards more sustainable industrial development. At a roundtable conference, several CEOs congratulated Naidu on his victory in the Assembly elections and expressed optimism about his industry-friendly policies, which they believe will continue to drive growth in Andhra Pradesh.
In his response, Naidu emphasized the importance of collaboration between the government and industry leaders. “It’s always a pleasure to interact with CEOs who play a crucial role in job creation and economic growth. By driving industrial success, they contribute to the economy and help the government run welfare schemes, contributing to the overall development of the state”, he remarked.
Naidu highlighted Andhra Pradesh’s consistent leadership in industrial development, citing the state’s strategic location, skilled workforce, and proactive governance. He noted that Andhra Pradesh has ranked first in Ease of Doing Business since 2015 but emphasized the need to focus on the 'Speed of Doing Business' to enhance the industrial ecosystem further.
Addressing concerns raised by industry stakeholders, Naidu assured them that his administration would resolve issues such as pending industrial incentives, infrastructure gaps, and unfavorable policies. He promised to rationalize taxes and implement a new industry-friendly policy aimed at driving growth.
In his closing remarks, Naidu called for collective efforts to reduce production costs and establish an integrated logistics and infrastructure network, aiming to make Andhra Pradesh a global industrial hub. He reiterated his vision of Andhra Pradesh becoming a leader in product-perfect manufacturing and promoting Telugu entrepreneurs globally, urging industry leaders to join in this mission.
