Andhra Pradesh plans to draw investments exceeding $1 trillion in the coming years, as the state has incentives ready to entice industries in energy, steel, information technology (IT), and other important sectors, according to the state's Information Technology Minister Nara Lokesh.

“Consider the investment made by ArcelorMittal, for instance. It will be allocated in three stages over a period. Likewise, the Google investment will take place over the next three years in stages,” Nara Lokesh stated.

The state has obtained investments totaling $120 billion over the past four months, which includes a $15 billion investment from Google to create an artificial intelligence (AI) center. Andhra Pradesh has also achieved a Rs.1.4 trillion investment from ArcelorMittal Nippon Steel to establish the largest steel plant in India, Nara Lokesh mentioned.

ArcelorMittal Nippon Steel's investment was revealed in early November 2024.

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Andhra Pradesh has set up a “first come, first served” early bird incentive plan for stepdown industries launched with considerable investments, like those from Google or ArcelorMittal Nippon Steel, Lokesh mentioned, noting that these incentives will match those provided by any other state in India.

“We offer this early bird program for them as we think they are the driving force that will accelerate the process. This is a topic we have previously talked about. We are prepared to provide the necessary infrastructure and incentives to assist them,” Nara Lokesh stated.

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In the past 16 months, Lokesh stated that Andhra Pradesh has attracted the highest amount of investments from firms in the energy, including renewable energy, steel, and IT sectors.

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Andhra Pradesh is also guaranteeing that micro, small, and medium enterprises (MSMEs) obtain a reasonable portion of incentives from the state's budget, based on the industry they intend to create, Nara Lokesh stated.