Overview
- Delivering the keynote in Visakhapatnam, Chief Minister N. Chandrababu Naidu set a goal to attract $500 billion in three years, target employment for 5 million people, and said escrow accounts for incentive payouts will start with sovereign guarantees offered where required.
- The state reported 35 Memoranda of Understanding signed ahead of the summit worth Rs 3.65 lakh crore, with a projected 1.26 lakh jobs.
- Sector moves include a confirmed MoU with Tillman Global Holdings for a 300 MW hyperscale data centre in Visakhapatnam at Rs 15,000 crore and ReNew Energy’s announcement of Rs 60,000 crore in new green projects, taking its fresh commitments in the state to Rs 82,000 crore.
- Naidu said Google plans a major AI data centre in Visakhapatnam, reported at $15 billion, with a foundation stone expected during the summit and a subsea cable link to Singapore; the company has not issued a formal confirmation in these reports.
- Organisers say the Nov 14–15 CII Partnership Summit will draw delegates from roughly 45 countries with expectations of 410 agreements worth about $120 billion, as the government touts 45‑day clearances and investor escort officers under its ‘Speed of Doing Business’ model.