NDA authorities will make Vizag monetary capital of Andhra Pradesh, says IT Minister Lokesh

The TDP-led NDA authorities within the State is dedicated to creating Visakhapatnam because the monetary capital of Andhra Pradesh and making it a trillion greenback economic system by 2047, Information Technology Minister Nara Lokesh has stated.

“One State-One Capital and decentralised growth is the State authorities’s method,” Mr. Lokesh stated on October 12, 2025 (Sunday).

The Minister was in metropolis to take part in varied programmes, together with an information centre undertaking at Rushikonda. He laid the stone for the primary 50-MW AI-powered Edge Data Center and Open Cable Landing Station at Rushikonda being arrange by Sify Infinit Spaces Limited in two phases on 3.6 acres of land with an funding of ₹1,500 crore.

After laying the stone, Mr. Lokesh stated, “If Hyderabad took 30 years to develop, Visakhapatnam will take 10 years. Visakhapatnam will obtain the biggest Foreign Direct Investment (FDI) within the historical past of India. We are assured of making a trillion greenback economic system by 2047.”

“When IT corporations got here to Hyderabad within the Nineties, Chief Minister N. Chandrababu Naidu had constructed cyber towers. It took greater than 30 years for Hyderabad to develop. It won’t take greater than 10 years for Visakhapatnam. That is our dedication. People ought to recognise the exhausting work behind bringing the businesses. Now, we’re competing not solely with different States but additionally with different nations for investments,” Mr. Lokesh stated.

“People elected us for our coverage of One State-One Capital and decentralisation of growth. We gained 94% seats. People gave a transparent majority for efficient governance, job creation, and for making Visakhapatnam the monetary capital,” he added.

“The folks of Visakhapatnam have all the time been with the TDP. Though we misplaced within the State and elsewhere in 2019, the folks of Visakhapatnam have been with us. When Hudhud struck in 2014, the town suffered lots. The folks of Visakhapatnam supported Mr. Naidu for the revival of the town,” Mr. Lokesh stated.

Investment movement

“Over 50% of the $120 billion investments in Andhra Pradesh within the final 17 months have come to the Greater Visakhapatnam Economic Region. The nation’s largest metal plant is coming to Visakhapatnam area. The largest FDI in India’s historical past is coming to Visakhapatnam. It will develop a vibrant ecosystem,” he noticed.

“As talked about within the Super Six guarantees, our primary purpose is to create 20 lakh jobs. We will create 5 lakh IT jobs in Visakhapatnam,” Mr. Lokesh stated.

“A couple of criticised the federal government for allotting land to IT big TCS for 99 paise. Some even approached the courtroom,” he stated, including that corporations akin to Cognizant, Accenture, Google would arrange their models in Visakhapatnam.

“The double-engine authorities is transferring like a bullet prepare. Prime Minister Narendra Modi is supporting Andhra Pradesh’s financial agenda. The State is being given precedence within the financial reforms being undertaken by the Centre. We are capable of save the Visakhapatnam Steel Plant due to the double-engine authorities,” Mr. Lokesh stated.