"We expect investment of Rs 30 lakh crores in next 5 years": Andhra Pradesh CM

New Delhi [India], July 16 : Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday announced that the state is expecting an investment of Rs 30 lakh crores over the next five years, out of this, Memorandums of Understanding (MoUs) worth Rs 10 lakh crores have already been signed.
Speaking to reporters, Chandrababu Naidu said, "In one year, we are able to attract Rs 10 lakh crore investment MoUs. Around Rs 5 lakh crores have already been grounded. Things are very positive, and we are moving in the right direction.
"Large investments are coming. We can expect the investment of Rs 30 lakh crores in the next five years. We have already got Rs 10 lakh crores," he added.
On Tesla's entry into India with the opening of a showroom in Mumbai, Naidu remarked that the Andhra Pradesh government is also in talks with global firms to invest in the state.
"We are working with everybody, and we cannot reveal trade secrets. We are moving in the right direction," he said.
Earlier in the day, at the launch of the Taskforce Report 'Towards Swarna Andhra Pradesh @ 2047', Naidu reminisced about the vision document he prepared for the state in 1999-2000, which he said had come to fruition. He compared it to the vision laid out by Prime Minister Narendra Modi for a developed India.
"Around 1999-2000, I prepared a vision document for Andhra Pradesh. That was the first vision document in this country. What I had visualised at the time became reality. Now, PM Modi has prepared Viksit Bharat. At the same time, we are working for Swarna Andhra Pradesh @ 2047," he said.
Naidu expressed his gratitude to Tata Sons Chairman N Chandrasekaran for his contribution to the state's vision.
He said, "Successful people in different fields have come forward to prepare a vision document for Andhra Pradesh. N Chandrasekaran, I really appreciate you as you have spent a lot of time, and you have also given valuable information. By 2047, I'm assuring you that Andhra Pradesh will be the best state in India."
Tata Sons Chairman N Chandrasekaran, Andhra Pradesh CM N Chandrababu Naidu attend the launch of the Taskforce Report 'Towards Swarna Andhra Pradesh @ 2047'.
Industry body CII has listed a slew of recommendations for Andhra Pradesh, which can help the coastal Indian state contribute to the Viksit Bharat dream.
Andhra Pradesh is poised to take a leap in its growth trajectory and ascend towards becoming a USD 2.4 trillion economy over the next two decades, the CII report asserted.
"The Swarna Andhra Pradesh 2047 Vision lays out a comprehensive framework for economic advancement, social equity, environmental sustainability, and governance excellence. This document outlines a bold and actionable roadmap to harness our potential. It envisions Andhra Pradesh as a USD 2.4 trillion economy by 2047 with a Per Capita Income of USD 42,000, in alignment with the national aspiration of Viksit Bharat @2047. Achieving this ambitious target will require sustained annual growth of 15 per cent, a challenge we embrace with clarity, confidence, and commitment," Andhra Pradesh CM Chandrababu Naidu said in the report.