Andhra Pradesh Plans Investment Protection Law to Shield Businesses from Political Shifts

The Andhra Pradesh government has announced plans to formulate a state-level Investment Protection Act designed to shield investors from political vendettas and shifting government regimes. Chief Minister N Chandrababu Naidu stated that the proposed legislation aims to ensure that land allotments, incentives, and project approvals granted by the administration cannot be reversed or revoked by future administrations.

Call for National Legislation

Addressing the Confederation of Indian Industry Partnership Summit in Visakhapatnam, Naidu urged Union Commerce and Industry Minister Piyush Goyal to support the state legislation and push for a similar enactment at the national level. State Minister Nara Lokesh also appealed for central clearance during the inaugural session. Officials noted that apprehensions regarding vindictive politics following changes in government have frequently caused anxiety among business leaders.

Investment Targets and MoUs

During the summit, the chief minister revealed that 303 Memoranda of Understanding involving proposed investments worth Rs 9.89 lakh crore would be signed. This adds to the Rs 22.60 lakh crore across 714 proposals received since June 2024. According to state figures, approximately 74 percent of those previously proposed projects have already secured land and incentive approvals, with hundreds moving into construction stages.

Industrial and Technological Focus

The state outlined various ambitious initiatives, including a dedicated technology park for women, a quantum computing facility in Amaravati, and a specialized Drone City. Leaders emphasized the state's rapid approval mechanisms, pointing to fast-tracked projects like the Kia automobile manufacturing unit and incoming investments from companies such as LG Electronics, alongside major targets for renewable energy, defense, and electronics manufacturing.