Naidu Urges Corporate Investment in Andhra Pradesh After Winning Business Reformer Award; Google Commits $15 Billion FDI

Andhra Pradesh Chief Minister N Chandrababu Naidu invited the corporate sector to invest in Andhra Pradesh and give him first-hand feedback on how the reforms initiated in the state are working.

Naidu, who was awarded the ‘Business Reformer of the Year’ at the ET Awards ceremony, said, “This award that you have given will bring in some more investments to my state. You heard how we are attracting investments to the state. Now all of you have to come to Andhra Pradesh with one investment and then witness first-hand how the reforms are working.”

Naidu, who came to power with an unprecedented mandate in June 2024, has introduced several innovative steps to make Andhra a sought-after investment destination. The topmost being opening escrow accounts for investors to ensure payment of incentives and no government red tape. The state government offers land at 99 paise per acre to IT companies to set up shop.

Riding high on these initiatives, Naidu has been able to attract big players to the state. Google's biggest FDI of $15 billion over five years has been announced in a data centre cluster in Visakhapatnam.

The investments are helping in cross-subsidising Naidu's welfare programme. He has introduced welfare schemes like financial assistance to underprivileged women to send their children to school, farmers and three LPG cylinders for eligible households.

The joy of creating something is far bigger than the fear of failure, said Sajjan Jindal, accepting the award for ET Business Leader of the Year on Saturday. As a follower of businesses built from scratch, Jindal was inspired to build something that belongs to everyone.

“Every furnace we have lit, every ton of steel we have poured, every megawatt we have added to this country's grid, it has never felt like business to me. It has always felt like participation in India's story,” he said.

One of Jindal's earliest inspirations was attending shareholder meetings of large companies. “I would sit there as a young boy, wide-eyed, watching men who had built empires from nothing, answer questions from ordinary shareholders with complete dignity. No airs, just quiet confidence and an absolute respect for every single person in the room.”

The $23-billion JSW Group, helmed by Sajjan Jindal, is the largest producer of steel and the fourth-largest producer of energy in the country. The conglomerate also has operations across automobiles, cement, paints, ports, sports and real estate.

Acknowledging his workmen as his “real strength”, Jindal said the group has never lost even a single day of work due to unrest or any other labour issue. “You must always take care of them as they are the ones who are building or fulfilling your ambitions and your dreams,” he said.