CM Naidu launches 15 new industrial projects in Sri City, to create 8,480 jobs

Tirupati: Andhra Pradesh Chief Minister Nara Chandrababu Naidu appealed to industrialists to focus on reducing product cost and logistics costs. Stating that Andhra Pradesh is more logistics cost-effective with better connectivity, he invited industrialists to invest in AP and make Sri City as best economic zone and best infrastructure zone.

On Monday, Naidu inaugurated 15 industrial projects with a total investment of Rs 1,570 crore, with the potential to create 8,480 jobs.

Sri City in Tirupati has over 200 companies from 30 countries on a single premises.

He also laid the foundation for 7 new projects worth Rs 900 crore with a potential of 2,740 jobs. Additionally, 5 companies signed MoUs today, promising an investment of Rs 1,213 crore and the creation of 4,060 jobs.

Later at the round table conference conducted, the CEOs expressed confidence in the implementation of industry-friendly policies under his leadership.

In response, the Chief Minister said, "With our strategic location, skilled workforce, and proactive governance, Andhra is the ideal destination for industries. Since 2015, we've been ranked No. 1 in Ease of Doing Business, but it's time now to focus on the 'Speed of Doing Business' to truly elevate our industrial landscape."

Acknowledging the past challenges, Naidu pointed out that the previous administration had neglected investments and left behind significant issues such as pending industrial incentives, infrastructure gaps, and irrational policies that hindered growth.

He assured the industry stakeholders that his government will address all their issues, rationalise taxes, and create a new industry-friendly policy.