In Sri City, Chandrababu Naidu Launches Projects Valued at Rs 3,683 Crore, Creating Over 15,280 New Jobs
With an emphasis on expediting business transactions and cutting expenses, the CM restates his government's commitment to assisting investors.
image for illustrative purpose
On Monday, Chief Minister N Chandrababu Naidu inaugurated 15 industrial projects at Sri City in the Tirupati district, with a total investment of 1,570 crore. These projects have the potential to create 8,480 jobs. In addition, he established the framework for seven new initiatives totalling Rs 900 crore that could create 2,740 jobs. Five businesses also inked memoranda of understanding, pledging to invest Rs 1,213 crore and generate 4,060 jobs.
On Monday, while in Sri City, Naidu urged business owners to concentrate on cutting expenses associated with product cost and logistics. Inviting industrialists to invest in Andhra Pradesh and establish Sri City as the best infrastructure and economic zone, the Chief Minister claimed that the state has better connectivity and is more cost-effective logistically.
With over 200 businesses from 30 countries housed on one campus, Sri City has come a long way since its founding. The Chief Minister expressed his satisfaction with this accomplishment and emphasised the importance of flawless products to compete in the global market. According to him, industries are essential to generating wealth and boosting the economy, and the NDA government wants to see zero poverty. The state government, he said, has been concentrating on producing hybrid solar and wind power.
During a roundtable discussion, the CEOs praised the CM for winning the assembly elections with overwhelming support, expressed excitement for his upcoming term, and expressed faith in his ability to implement policies that would benefit the industry.
"It's always a pleasure to interact with CEOs who play a crucial role in job creation and economic growth. They support the state's overall development, the economy, and the government's welfare program by fostering industrial success," the Chief Minister responded.
The Chief Minister assured the industry stakeholders that his government would address all issues, rationalise taxes, and create new industry-friendly policies. The Chief Minister acknowledged past challenges and pointed out that the previous administration had neglected investments and left behind significant issues like pending industrial incentives, infrastructure gaps, and irrational policies that hindered growth. He said, “Let us work together to bring down the cost of production and create an integrated logistics and infrastructure network to make Andhra Pradesh a global industrial hub.”
Naidu stressed that Telugu entrepreneurs must be supported globally, zero poverty must be ensured, and AP wants to become a leader in product-perfect manufacturing. He invited the industry's key players to help accomplish this objective.
