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Andhra Pradesh Opens Vizag Investment Summit, Announces Rs 3.65 Lakh Cr MoUs and $500 Billion Target

Naidu promised expedited clearances backed by escrow accounts with sovereign guarantees to turn headline commitments into projects.

Overview

  • The 30th CII Partnership Summit opened in Visakhapatnam, inaugurated by Vice‑President C.P. Radhakrishnan, with more than 3,000 delegates from over 50 countries.
  • In his keynote, Chief Minister N. Chandrababu Naidu set a goal of attracting $500 billion in three years and 5 million jobs, and outlined plans spanning green hydrogen, defence corridors and a Quantum Valley in Amaravati.
  • On the eve of the summit, the government said it signed 35 MoUs worth Rs 3.65 lakh crore, projecting about 1.26 lakh jobs.
  • ReNew Energy announced a Rs 60,000 crore commitment for multiple renewable projects in the state, adding to earlier green‑energy pledges.
  • Officials said 410 agreements worth about $120 billion are expected to be formalised during the event, and Naidu said Google plans a $15 billion AI/data centre in Visakhapatnam with a new subsea cable link to Singapore.