Published Apr 11, 2025 | 7:34 AM ⚊ Updated Apr 11, 2025 | 7:34 AM
Andhra Pradesh Chief Minister N Chandrababu Naidu. (X)
Synopsis: The Andhra Pradesh SIPB decided to allocate land to IT companies at nominal prices to stimulate the sector’s growth in the state. The chief minister approved a proposal by IT Minister Nara Lokesh, who said that offering land at reduced rates would attract more firms.
The fifth Andhra Pradesh State Investment Promotion Board (SIPB) which met on Thursday, 10 April, at Amaravati, under the chairmanship of Chief Minister N Chandrababu Naidu, decided to allocate land to IT companies at nominal prices to boost the sector’s growth in the state.
The chief minister approved a proposal by IT Minister Nara Lokesh, who said that offering land at reduced rates would attract more firms. Officials were directed to revise the IT Policy accordingly to reflect this incentive.
Naidu underscored the importance of ensuring approved investments materialise, not just attracting them. He instructed officials to seek clarity on production commencement dates for all projects and to monitor progress phase-wise.
During the meeting, the SIPB approved investments from 17 companies across sectors including IT, communications, food processing, energy, and others.
These investments are expected to total ₹31,167 crore and create 32,633 jobs. The chief minister directed officials to provide a detailed report at the next SIPB meeting on the number of companies that have commenced production and the jobs generated. He also instructed the development of a portal detailing job placements by each company.
Since the NDA coalition government assumed power in June 2024, 57 investment approvals were worth ₹4,71,379 crore across five SIPB meetings, with a projected creation of 4,17,188 jobs. This contrasts with the previous government’s five SIPB meetings during its entire five-year term.
Details of Investments Approved in the 5th SIPB Meeting:
(Edited by Muhammed Fazil.)
