Amaravati, April 7 – The Andhra Pradesh State Investment Promotion Board (SIPB) approved 31 projects worth ₹39,436 crore on Tuesday, with the potential to create over 1.11 lakh direct jobs.
At a meeting chaired by Chief Minister N. Chandrababu Naidu, the SIPB gave approval to projects in key sectors, including renewable energy, industries, IT, tourism, and food processing.
Emphasizing clean energy as a core element of Andhra Pradesh's industrial strategy, the Chief Minister directed officials to aggressively harness the state's solar potential, with a particular focus on developing Rayalaseema as a major renewable energy hub.
He stressed the importance of establishing large solar parks and called for robust transmission infrastructure to enable seamless power evacuation – not just within the state, but also to national grids and interstate markets. This move is aimed at transforming Andhra Pradesh into a key supplier of green energy across India, according to an official release.
The state is also focusing on becoming a major hub for consumer electronics manufacturing, with areas like Sri City, Kopparthy, and Anantapur identified as growth centres.
Alongside manufacturing, the government is also promoting the establishment of Global Capability Centres (GCCs) to deepen the IT ecosystem and attract high-value technology investments.
The SIPB also approved proposals from three companies in Amaravati's upcoming Quantum Valley, signaling early momentum in advanced technology investments.
The board also approved initiatives aimed at converting agricultural, horticultural, and aquaculture waste into value-added products such as ethanol, aligning with the state's push towards a circular and sustainable industrial model.
At the same time, the government is scaling up food processing capacity in line with rising horticultural output, while also enhancing market linkages for crops such as palm oil and cocoa to boost farmer incomes and MSME growth.
Highlighting the need for industrial safety, the Chief Minister called for modern protocols across sectors, including pharmaceuticals, steel, green energy, and battery storage. A comprehensive standard operating framework aligned with disaster management norms will be rolled out.
He also emphasized the importance of execution, directing officials to ensure that approved projects are completed within defined timelines, and that investment commitments made during summits are translated into on-the-ground progress.
With this latest round of approvals, Andhra Pradesh is reinforcing its position as a high-growth investment destination anchored in renewable energy, advanced manufacturing, and sustainable industrialization.
"The focus is on speed, scale, and sustainability – ensuring that investments translate quickly into jobs and economic growth," the Chief Minister said, reiterating the state's ambition to emerge as a national leader in next-generation industries.