Andhra Pradesh approves 50 industrial projects and earmarks Rs 8.10 lakh crore in annual credit plan

The Andhra Pradesh State Investment Promotion Board (SIPB) approved proposals from 50 companies, encompassing a total investment of about ₹30,515 crore. The projects are expected to generate roughly 29,677 jobs across the state and span sectors such as bio‑fuel, semiconductor manufacturing, lithium‑ion battery production, data centres, renewable‑energy storage, automotive, aerospace and tourism.

In a separate meeting, the state set its annual credit target for FY 2026‑27 at ₹8.10 lakh crore, up 22.7% from the previous year. Of this, ₹3.60 lakh crore is allocated to agriculture (including ₹2 lakh crore for crop loans and ₹10,693 crore for farm mechanisation), ₹1.55 lakh crore to the MSME sector, and additional funds for housing, education and other priority areas. The government aims for 15% economic growth and has formed committees to monitor loan distribution and curb digital fraud.