Andhra Pradesh has received 340 investment proposals worth Rs 13 lakh crore. Chief Minister YS Jagan Mohan Reddy announced this at the inaugural function of the Global Investors Summit held in Visakhapatnam on 3 March, 2023.

Overall, there will be a job creation for nearly six lakh people across 20 sectors.

As many as 92 memorandum of understanding (MoUs) would be executed with an investment of Rs 11.85 lakh crore giving employment to four lakh people. The remaining 248 MoUs are an investment of Rs1.15 lakh crore and will create employment for two lakh people. The MoUs were signed after inaugurating the Summit.

Further, Reliance Industries, Adani Group, Aditya Birla Group, NTPC, IOCL, and many other companies will be setting up their businesses, and expanding in the state, as stated by the Chief Minister.