Historic Investment Boost Transforms Andhra Pradesh into 'Data Valley'
Andhra Pradesh's 11th State Investment Promotion Board meeting, led by CM N Chandrababu Naidu, approved investments worth Rs 1.14 lakh crore, creating 67,000 jobs. Raiden Infotech's FDI will establish India's largest data center. Naidu announced economic regions and a master plan for infrastructure to support growth.
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In a pivotal move for economic development, Andhra Pradesh's 11th State Investment Promotion Board meeting, chaired by Chief Minister N Chandrababu Naidu, sanctioned investments totaling Rs 1.14 lakh crore, spanning IT, fuel, tourism, aerospace, and food processing sectors.
Notably, Raiden Infotech India Ltd's Rs 87,520 crore investment marks the largest foreign direct investment in India, establishing a monumental data center in Visakhapatnam. The investment aims to foster job creation for five lakh individuals, as noted by IT Minister Nara Lokesh.
Chief Minister Naidu emphasized the significance of these developments in creating a robust technology ecosystem, envisioning economic regions and directing officials to draft a comprehensive master plan for infrastructure enhancement, boosting connectivity to industrial zones.
(With inputs from agencies.)
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