Andhra Pradesh on Friday set a mammoth target to attract $1 trillion investments in assorted sectors over the next 10 years, laid the foundation stone for its ambitious drone and space city projects, and vowed to launch a “Quantum Valley” by January, seeking to position itself as the leading state in high-tech and green energy sectors in the country.
Speaking at the 30th CII Partnership Summit here, Chief Minister N Chandrababu Naidu said: “The target is to attract investments of over $500 billion over the next three years and create 5 million jobs.” Addressing the global investor community, he added, “With all the enabling policies available in the state, the global investors can come and invest here. We are prepared to invest in your countries as well. India is a democratic country with a stable government, your investment will be safe.”
Stating that the state government is taking “different approaches” with the latest technologies, he said that within two years, AP is going to produce quantum computers. In September, the state government announced plans to establish India’s first Quantum Valley in Amaravati as part of India’s National Quantum Mission. “We are going to provide quantum computers for the global community wherever you need. We are starting space, drone, electronic and aerospace cities semiconductor manufacturing, robotics and defense corridors,” he said.
Aligning with the central government’s ambitious plans to achieve 500 gigawatts (GW) of installed electricity capacity from non-fossil fuel sources such as wind, solar, hydro, and nuclear by 2030, Naidu said that AP is going to contribute nearly 160 GW to that goal. “Green hydrogen is another strong area for us. AP is strong in green energy, especially solar, wind and battery technology. The cost of batteries is also coming down. We are going further down the streamline to focus on green hydrogen and green ammonia,” the CM said.
The state, he said, attracted investments of over $20 billion in the past 18 months, creating 2 million new jobs.
In October, Google announced an investment of $15 billion to build its largest AI data center and hub outside of the US in AP in partnership with Adani Group and Airtel. Naidu said that more data centres – of 4-5 gigawatt capacity – will be set up in the state. “There’s a lot of opportunities in deep technologies. Investors who are willing to invest in satellite launching, drones, aerospace, and even defense, we are prepared to host you,” Nadiu said.
The CM said that Narendra Modi’s government at the centre is providing a stable government, and corrected the structural deficiencies. “The central government is planning to bring in more reforms. India has a demographic dividend advantage. We are currently the fourth-largest economy and by next year, India will be the third largest economy followed by the largest economy globally by 2047,” Naidu said.
“We are strong in doing business. We have always been ranked top in the ease of doing business. Now, we have shifted the gear to focus on the speed of doing business. Once you sign an MOU (with the state government), then it becomes our project. We will get everything done in real time,” Naidu said.
Following the recent inauguration of drone city in Kurnool by PM Modi, Naidu said that the state will introduce drone taxis in the next two years. Further, he said that to accelerate industrial innovation, AP is nurturing a robust startup ecosystem, integrated with its universities, and industrial clusters. “Our innovation mission is supporting entrepreneurs in sectors like deep tech, MedTech, agritech and EV technology. We are also leveraging AI, Internet of Things and data analytics to strengthen governance, logistics and industrial operations,” he said.
