Singapore Visit a Grand Success as Deal Etched for Rs 45,000 Crore Investment: Nara Lokesh

Amaravati, July 31: Andhra Pradesh has signed a landmark agreement securing ₹45,000 crore in investments from Singapore’s Government Investment Corporation (GIC), marking a significant milestone for the state’s growth agenda. Education, IT, and Electronics Minister Nara Lokesh announced the outcome following Chief Minister Chandrababu Naidu’s led AP delgation’s four-day visit to Singapore, which, he said, not only showcased growing international confidence in Andhra Pradesh but also restored the state’s brand image after years of setbacks.

Lokesh underscored that this investment marks a clear vote of confidence in Andhra Pradesh’s renewed focus on attracting global capital, especially in sectors like IT, electronics, green energy, port development, and real estate. The minister reported robust commitments following direct meetings with Singapore’s top government leaders and decision-makers across the business world, describing the trip as a catalyst for a new wave of high-impact projects.

He pointed out that the administration has delivered more investments in just 14 months than the state saw in the previous decade. This surge, he said, is rooted in Chief Minister Naidu’s hands-on efforts, working tirelessly alongside ministers and senior officials, combined with systematic outreach to the diaspora and major international corporations.

Restoring Trust and Tackling Past Hurdles

Lokesh addressed persistent challenges from the previous government, noting that investor hesitancy arose from canceled agreements and negative narratives spread through misleading communications to foreign authorities. He criticized actions he attributed to the former leadership under Jagan Mohan Reddy, stating that such moves drove away major investors like Amara Raja Batteries and the Lulu Group and diminished Andhra Pradesh’s image as a business-friendly destination.

He also cited Instances where, for political reasons, opposition-linked individuals allegedly attempted to deter foreign investments through negative emails and complaints to regulatory agencies. Lokesh stressed that the current government has set out to rectify these issues and is actively countering disinformation that could cast doubts on AP’s investment climate.

Focus on Job Creation and Industrial Expansion

The minister outlined the administration’s policy of granting state support and land only to companies able to demonstrate a strong job creation track record, highlighting that firms such as TCS and Cognizant are already slated to launch operations in Visakhapatnam within the coming months. In addition, he referenced new government models to incentivize MSMEs and ambitious plans to bolster the hospitality and tourism sectors by expanding hotel infrastructure in major cities like Vizag, Tirupati, Amaravati, Kakinada, Kurnool, and Rajahmundry.

Lokesh explained that these initiatives are driven by a policy philosophy rooted in fairness and results, drawing inspiration from models adopted by states like Gujarat, which mandate that land allocations are always tied to robust employment commitments and economic impact.

Policy Stability and Vision for Growth

Lokesh was clear that policy stability and transparent governance are essential for rebuilding lost investor trust and engendering consistent economic progress. He observed that Andhra Pradesh’s return to the NDA alliance and a period of unified, stable governance has sent positive signals to business leaders wary of political risk, something he likened to the consistent governments that enabled rapid growth in economies such as Singapore and China.

He also credited Andhra’s revival of international linkages to Chief Minister Naidu’s leadership and close relationships cultivated over decades, including outreach to the global Telugu diaspora, industry heads, and Singapore’s senior government officials. During the tour, Naidu and his delegation participated in more than two dozen strategic meetings, underlining the seriousness of Andhra Pradesh’s intent.

Learning from Singapore’s Development Blueprint

Reflecting on the visit, Lokesh said the Singapore government not only reaffirmed its confidence in AP but also offered roadmaps for capacity building and sectoral training, especially in port management, green energy, IT, and advanced technology. He stated Andhra Pradesh is committed to adopting these best practices, including introducing AI, machine learning, and quantum computing educational tracks, and supporting sector-specific training for both civil servants and youth.

Commitment to Transparent and Inclusive Governance

Lokesh further declared that strict rules would be enforced against any campaigns intending to undermine Andhra Pradesh’s progress. He called for political unity within the state, particularly around sensitive issues such as inter-state water projects, arguing that regional cooperation is key for sustained prosperity and shared welfare among Telugu people.

With a focus on restoring Andhra Pradesh’s lost reputation, drawing in global capital, and linking economic incentives directly to job creation and development, Lokesh concluded that the state is poised for a new era, one defined by opportunity, innovation, and renewed trust from investors at home and abroad.