AP Aims for 15% Annual Economic Growth Over Next 20 Years: CM Chandrababu

Andhra Pradesh is working towards achieving an annual economic growth rate of 15 per cent for the next two decades, Chief Minister N Chandrababu Naidu said, stressing that the State has significant potential to attract investments across tourism, industry and technology.

Speaking at the CII Partnership Summit 2026 curtain-raiser event in New Delhi alongside Union Commerce and Industry Minister Piyush Goyal, Naidu said Andhra Pradesh had the potential to grow at more than 10-12 per cent annually. However, he said his personal target was to achieve 15 per cent growth and sustain it for 20 years, with investment and industrial development forming the backbone of the strategy.

Naidu invited domestic and international investors to explore opportunities in the State, cautioning that missed investment opportunities could be difficult to regain. He said the government was pursuing a “Build Andhra Pradesh” approach to expand investments, industries and employment, while focusing on sectors such as technology, green energy, petrochemicals and tourism.

The Chief Minister said investment agreements worth Rs 13.50 lakh crore were signed at last year's Partnership Summit, while the State had secured investments worth Rs 22 lakh crore over the past 28 months. He said the focus was now on converting MoUs into actual investments. Companies including Google and ArcelorMittal are looking at projects in the State, he added.

As part of efforts to improve the investment climate, the government has adopted a “speed of doing business” approach. Naidu said clearances would be processed in real time and an escrow account mechanism would be introduced to ensure that investment incentives are transferred online without delays. He also said the NALA Act, which had been viewed as an impediment to investments, had been scrapped.

Tourism remains another priority, with plans to develop Suryalanka in Bapatla district as a major beach resort and establish a world-class convention centre in Visakhapatnam. The State is also targeting 500 GW of green energy, with agreements for 110 GW already signed, while seeking to make Rayalaseema a global horticulture hub.

Naidu invited investors to the CII Partnership Summit in Visakhapatnam on November 12 and 13, saying it would provide opportunities to explore projects and establish business partnerships.

Goyal said Andhra Pradesh would play a key role in India's development, highlighting projects such as the Google data centre in Visakhapatnam and the proposed Quantum Computing Valley in Amaravati. He called for the Centre, States and industry to work together as “Team India” to achieve the Viksit Bharat goal.