Best time to invest in Andhra Pradesh: Chandrababu Naidu

Amaravati, Oct 17: Andhra Pradesh Chief Minister N. Chandrababu Naidu on Thursday invited industrialists to the state, saying there's never been a better time to invest there.

Day after the state Cabinet approved six new policies, Naidu took to X to extend an open invitation to industrialists and investors.

"Respected Industrialists & Investors, Andhra Pradesh is now OPEN with new best policies. I'm inviting you to invest in our state, where we have rolled out a red carpet to welcome you. In AP, a business-friendly state government, talented youngsters and robust infrastructure await you," he wrote.

"The new policy framework has been designed based on comprehensive consultations with Industry veterans. The policy framework aims to foster businesses and a spirit of entrepreneurship in our state. We're building the best business ecosystem in the country. I personally want to assure you that the GoAP will take every step to help you set a base in AP and grow," he said.

"There's never been a better time to invest in India, there's never been a better time to invest in Andhra Pradesh! Collaborate with us on this exciting growth journey, where we can expand both - your business horizons and our state's potential. Looking forward to seeing you in Andhra Pradesh!" he added.

The Cabinet meeting, chaired by the Chief Minister on Wednesday, approved policies for industrial development, MSME & entrepreneur development policy, food processing, electronics, private parks, and integrated clean energy.

The industrial policy has the target of attracting Rs 30 lakh crore in the manufacturing sector during the next five years. It aims to operationalise investments worth Rs 5 lakh crore during the policy period. The policy has set the target of attracting Foreign Direct Investment of Rs 83,000 crore and creating five lakh jobs in manufacturing sectors. The government will develop over 175 sector and cluster-focused industrial parks. The policy also aimed to double exports to Rs. 33,200 crore.

"These policies align with our vision to attract investment, create jobs, boost entrepreneurship, and lead in clean energy. Our major focus is employment generation and empowering the youth of Andhra Pradesh to think globally and act globally, with initiatives like one family, one entrepreneur," Naidu had said after the Cabinet meeting.