Nara Lokesh Investment Drive Propels Andhra Pradesh FDI Inflows to $609 Million
· India · The Hindu, India Today
Andhra Pradesh IT and HRD Minister Nara Lokesh's recent investment outreach has propelled the State's Foreign Direct Investment inflows to $609 million, according to Telugu Desam Party spokesperson Neelayapalem Vijay Kumar. Speaking in Vijayawada, Vijay Kumar credited the state's Speed of Doing Business framework and escrow-based incentive distribution system for clinching deals on an unprecedented scale. Lokesh's outreach spanned tours of Dubai, Russia, South Korea, and Gujarat, attracting major corporate houses to invest in the region. The State Investment Promotion Board and the Cabinet recently cleared 28 mega industrial proposals worth ₹22,178 crore, unlocking 19,739 direct jobs. With these approvals, the overall approved investment pipeline in Andhra Pradesh has reached ₹14.05 lakh crore.
Why it matters
The industrial push directly impacts local employment and regional economic development in Andhra Pradesh by unlocking nearly 20,000 direct jobs.
Read the original report — The Hindu
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