Nara Lokesh pitches Andhra Pradesh as investment hub during Kolkata visit, sets $2.4 trillion economy goal

Speaking at an event hosted by the Indian Chamber of Commerce (ICC) in Kolkata, Andhra Pradesh Minister for Information Technology, Electronics & Communication and Human Resource Development, Nara Lokesh, invited West Bengal's business community to invest in the state.

"Andhra Pradesh today is a $220 billion economy. It will become a $2.4 trillion economy, and we would love to have you as partners in our growth trajectory and success story," Lokesh said.

Explaining what sets Andhra Pradesh apart as an investment destination, he highlighted what he called the state's "three Ss" — speed, stability and service.

"A lot of people ask me what makes Andhra Pradesh different and why they should invest in Andhra Pradesh. I will give you three Ss. The first is speed, the second is stability, and the third is service. Once you shake hands with us, it is no longer your project; it becomes our project," he said.

Lokesh also praised Prime Minister Narendra Modi for providing political stability and driving reforms at the national level.

"He has successfully implemented reforms across the country and is encouraging states to carry forward that reform agenda. Andhra Pradesh remains one of the leading states in implementing these reforms," he said.

Referring to recent political instability witnessed in several neighbouring countries, Lokesh said India continues to stand out as a stable and attractive destination for investment.

"Today, the West is looking at India, and even the East is looking at India. I believe we have an amazing Prime Minister who has brought stability to the country," he said.

Building a Digital Infrastructure Hub

The Andhra Pradesh government has been aggressively positioning the state as a destination for digital infrastructure investments.

Last week, the state unveiled a comprehensive power transmission roadmap aimed at supporting a large-scale influx of hyperscale data centres, cloud infrastructure and artificial intelligence facilities in and around Visakhapatnam (Vizag).

Special Chief Secretary (Energy) K. Vijayanand said the initiative would strengthen Andhra Pradesh's position as one of India's most attractive destinations for world-class digital infrastructure investments.

"Just as ports, national highways and airports played a vital role in driving industrial growth in the past, data centres are expected to become the backbone of the future digital economy," Vijayanand was quoted as saying by The New Indian Express.

The state has also been actively courting semiconductor investments.

Recently, CM N Chandrababu Naidu had invited global semiconductor companies to visit Andhra Pradesh within the next 30 days to explore investment opportunities.

Addressing the Semicon Ecosystem Roundtable Conference in Singapore, Naidu said Andhra Pradesh is adopting a "Speed of Doing Business" approach focused on faster approvals, efficient governance and investor-friendly policies, reported Hans India.

Meanwhile,  Union Minister for Civil Aviation K. Rammohan Naidu on Friday praised Naidu and said the state was making rapid progress under his vision.

The data centres in Visakhapatnam and Vizianagaram and the international airport at Bhogapuram would benefit the North Andhra districts and bring more jobs for the region’s youth, he was quoted as saying by The Hindu.

Maharashtra's Economic Vision

Andhra Pradesh's ambitious economic targets come at a time when several Indian states are setting long-term growth goals.

Maharashtra Chief Minister Devendra Fadnavis has outlined a roadmap to transform Maharashtra into a $5 trillion economy by 2047.

During the recently held NITI Aayog meeting in New Delhi, the Chief Minister was quoted as saying by The Indian Express, “Our vision of Viksit Maharashtra-2047 has set the goal of achieving a $1 Trillion economy by 2030, $2 Trillion by 2035 and $5 Trillion by 2047. All departments of the State government have prepared detailed action plans to be implemented for a period till 2029-30, accelerating sustainable economic development of the state."

Progress Under the Semicon India Programme

Recognising the strategic importance of semiconductors, the Government of India launched the Semicon India Programme with an outlay of Rs 76,000 crore to develop a robust semiconductor and display manufacturing ecosystem.

Key achievements under the programme include

Approval of 10 semiconductor projects involving investments of approximately Rs 1.6 lakh crore, including two fabrication units and eight packaging facilities.

The projects cover CMOS (silicon) fabrication, silicon carbide manufacturing, advanced packaging and memory packaging technologies.

Four approved units have already commenced pilot production.

Twenty-four chip design projects have been supported through startups, with 16 completing tape-outs and 13 securing venture capital funding.

More than 350 universities have been provided access to Electronic Design Automation (EDA) tools, benefiting over 65,000 engineers and students across the country.

(Reporting by Supriyo Hazra)