Andhra Pradesh to sign 303 MoUs worth ₹9.89 lakh crore
What's the story
Andhra Pradesh Chief Minister N Chandrababu Naidu has announced that the state will sign 303 memoranda of understanding (MoUs) worth ₹9.89 lakh crore at the CII Partnership Summit. The move will take the total investment commitments since June 2024 to ₹32.49 lakh crore. Naidu also revealed plans to introduce an Investment Protection Act and a Speed of Doing Business Act, along with an escrow mechanism, to safeguard investors in the state.
National appeal
Naidu urges national investment protection legislation
At the summit in Visakhapatnam, Naidu urged Union Commerce and Industry Minister Piyush Goyal to consider enacting investment protection legislation at the national level.
"Our priorities in the state are aligned with the country's priorities," he said.
The Chief Minister also revealed that 526 projects worth ₹17.1 lakh crore have received land and incentive approvals, nearly 76% of the proposed investment value.
Tech initiatives
Plans to make Amaravati a quantum computing hub
Naidu also revealed plans to develop Amaravati as a global quantum computing hub with a target of 3,000 qubits capacity.
"We will provide quantum computing to the world from Amaravati," he said.
The state government also announced plans for a 250-acre quantum computing manufacturing hub in Amaravati, targeting an initial addition of 120 qubits by 2027.
Infrastructure goals
Google data center inauguration set for August 2028
Naidu also announced that Google's proposed 1 GW data center, supported by three subsea cables, is scheduled for inauguration on August 15, 2028.
The state government has set a target of developing 1 GW of data center capacity by FY29-30.
Other ambitious targets include generating 160 GW of renewable energy and achieving ₹4.2 lakh crore in annual electronics production.
Sectoral investments
Other ambitious targets and advancements in technology
The state government has also set ambitious targets for sectoral investments. These include ₹50,000 crore in aerospace and defense, ₹25,000 crore in the space sector, and ₹30,000 crore in food processing.
Naidu also spoke about developing drone taxis and expanding medicine deliveries using drones as part of the state's technological advancements.