Andhra aims to attract $1-trn funding in 5 yrs

ANDHRA PRADESH HAS set an ambitious goal of attracting $1 trillion in global and domestic investment in five years, as the state looks to position itself as a major industrial hub, the state’s Education and Information and Technology Minister Nara Lokesh said on Wednesday.

- FE BUREAU

Addressing mediapersons here ahead of the CII Partnership Summit in Visakhapatnam, Lokesh said the state has already got $120 billion investment commitments over the past 16 months.

“These are not symbolic MoUs. They represent real, on-ground projects that are creating employment and transforming regional economies,” he said, adding that the state government aims to create 2 million jobs over five years.

The two-day CII Partnership Summit, scheduled for November 14-15, will see 410 investment agreements worth $120 billion being formalised, according to the state government.