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The Reliance Group has signed pacts with Andhra Pradesh Government for investment of ₹50,000 crores in the State in electronics, IT and petroleum sectors in phases.
The MoUs were signed here on Sunday on the second day of the partnership summit of the Confederation of Indian Industry (CII). Reliance Jio is investing ₹15,000 crores in setting up electronics parks at Tirupati and Amaravati, the new capital city. An institute of excellence would be set up at Amaravati which will be a hub of innovation, incubation and start-ups. The unit at Tirupati will have the capacity to manufacture one million cell phones.
Chief Minister N Chandrababu Naidu said it was “a huge step forward in making AP a hardware hub and IT and ITES are already being promoted in a big way.”
State IT Minister Lokesh said 20 per cent of the cell phones in the country were being manufactured in Andhra Pradesh. “They are not merely being assembled in the State. They are being designed and manufactured here,” he added.
The agreement with Reliance Jio would give further impetus to the sector's growth in the State, he added.
In the petroleum sector, Reliance proposes to invest ₹35,000 crores in the State in phases.
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