Andhra Pradesh to soon enact Investors Protection Act, says Nara Lokesh
Advertisement
Visakhapatnam, Nov 12 : The Andhra Pradesh government will bring a law to provide protection to the investments in the state, Minister Nara Lokesh announced here on Thursday.
Addressing the inaugural session of the 31st CII Partnership Summit 2026, the Minister for Human Resources Development, Information Technology, Electronics and Real Time Governance said the government will enact the 'Investors Protection Act'.
After pioneering the implementation of escrow accounts, Andhra Pradesh is set to become the first state in India to implement the 'Investors Protection Act'
Lokesh said that the state government was proactively working on an "Investors Protection Act" to safeguard investors.
“Such legislation will provide greater confidence and assurance to industrialists and encourage them to invest," he said.
He requested Union Minister of Trade and Commerce Piyush Goyal to facilitate policy clearance and its implementation at the national level.
Building on its pioneering initiative of providing escrow accounts for investors, Andhra Pradesh is set to become the first state to introduce a dedicated legal framework for investment protection.
Lokesh urged global industrialists not merely to visit Andhra Pradesh, but to invest, innovate and grow here. He urged them not just to build their factories in the state, but to make Andhra Pradesh their corporate home.
He assured them of the government's complete cooperation and support.
"We have a coastline of more than 1,000 kilometres. Visakhapatnam, our major port, along with our other ports, currently handles approximately 100 million tonnes of cargo annually. Four new greenfield ports are under construction at Ramayapatnam, Mulapeta, Machilipatnam and Kakinada. With these additions, our cargo-handling capacity is set to double,” he said.
The minister stated that approximately one-third of India's seafood exports by volume originate from the Andhra Pradesh coastline. Nearly 80 per cent of India's shrimp exports come from Andhra farms.
He also revealed that nearly 60 per cent of India's air conditioners are manufactured at a single location in Sri City, Andhra Pradesh.
“We produce more than 40 per cent of India's cocoa. More than 40 per cent of the country's dry chilli production comes from the Guntur region. Andhra Pradesh is India's Fruit Bowl. It is the largest fruit-producing state in the country, accounting for approximately 16 per cent of national production. We also rank first in the country in fish and egg production. More than half of India's FCV tobacco production comes from Andhra Pradesh,” he said
Lokesh said that since Kia commenced production in Anantapur in 2019, nearly 1.9 million cars have rolled out of its plant, with exports reaching more than 90 countries.
He also shared that since June 2024, Andhra Pradesh has received investment commitments worth Rs. 22.6 lakh crore. More importantly, 73 per cent of these commitments have been converted into approved projects. These projects are worth Rs 17.2 lakh crore and are expected to generate employment for 12.7 lakh people.
Of these, 51 per cent have reached the ground-level implementation stage. Projects worth Rs. 5.9 lakh crore, with the potential to create 7.4 lakh jobs, have commenced construction, he said.
Addressing the inaugural session of the 31st CII Partnership Summit 2026, the Minister for Human Resources Development, Information Technology, Electronics and Real Time Governance said the government will enact the 'Investors Protection Act'.
After pioneering the implementation of escrow accounts, Andhra Pradesh is set to become the first state in India to implement the 'Investors Protection Act'
Lokesh said that the state government was proactively working on an "Investors Protection Act" to safeguard investors.
“Such legislation will provide greater confidence and assurance to industrialists and encourage them to invest," he said.
He requested Union Minister of Trade and Commerce Piyush Goyal to facilitate policy clearance and its implementation at the national level.
Building on its pioneering initiative of providing escrow accounts for investors, Andhra Pradesh is set to become the first state to introduce a dedicated legal framework for investment protection.
Lokesh urged global industrialists not merely to visit Andhra Pradesh, but to invest, innovate and grow here. He urged them not just to build their factories in the state, but to make Andhra Pradesh their corporate home.
He assured them of the government's complete cooperation and support.
"We have a coastline of more than 1,000 kilometres. Visakhapatnam, our major port, along with our other ports, currently handles approximately 100 million tonnes of cargo annually. Four new greenfield ports are under construction at Ramayapatnam, Mulapeta, Machilipatnam and Kakinada. With these additions, our cargo-handling capacity is set to double,” he said.
The minister stated that approximately one-third of India's seafood exports by volume originate from the Andhra Pradesh coastline. Nearly 80 per cent of India's shrimp exports come from Andhra farms.
He also revealed that nearly 60 per cent of India's air conditioners are manufactured at a single location in Sri City, Andhra Pradesh.
“We produce more than 40 per cent of India's cocoa. More than 40 per cent of the country's dry chilli production comes from the Guntur region. Andhra Pradesh is India's Fruit Bowl. It is the largest fruit-producing state in the country, accounting for approximately 16 per cent of national production. We also rank first in the country in fish and egg production. More than half of India's FCV tobacco production comes from Andhra Pradesh,” he said
Lokesh said that since Kia commenced production in Anantapur in 2019, nearly 1.9 million cars have rolled out of its plant, with exports reaching more than 90 countries.
He also shared that since June 2024, Andhra Pradesh has received investment commitments worth Rs. 22.6 lakh crore. More importantly, 73 per cent of these commitments have been converted into approved projects. These projects are worth Rs 17.2 lakh crore and are expected to generate employment for 12.7 lakh people.
Of these, 51 per cent have reached the ground-level implementation stage. Projects worth Rs. 5.9 lakh crore, with the potential to create 7.4 lakh jobs, have commenced construction, he said.
Advertisement
Note: The content of this article is sourced from a news agency and has not been edited by the ap7am team.