metro india news  I amaravati

In a major milestone toward fulfilling the promise of creating 20 lakh jobs in Andhra Pradesh, Minister for Education, IT and Electronics Nara Lokesh is set to lay the foundation stone for an LG Electronics manufacturing unit in Sri City, near Tirupati, on May 8. This marks a significant development in the government’s mission to transform Rayalaseema into an electronics manufacturing hub.

South Korean electronics giant LG has committed to investing Rs.5,001 crore over the next six years to establish a state-of-the-art facility that will produce refrigerators, washing machines, air conditioners, and other electronic appliances. In a bid to boost domestic manufacturing, the company will also set up ancillary units to produce key components like compressors, motor compressors, and heat exchangers within Andhra Pradesh, reducing reliance on imports.

The project is expected to directly create 2,000 employment opportunities for local youth, with five additional allied units coming up at an investment of Rs.839 crore.

This project is one of many outcomes of Minister Lokesh’s tireless efforts following his commitment made during the Yuvagalam Padayatra. Having witnessed firsthand the distress of educated youth migrating to neighboring states in search of employment, Lokesh had vowed to generate 20 lakh jobs in five years—a promise he has been methodically pursuing since day one in office.

In just five months, all necessary clearances and incentives for LG’s unit were expedited, due to Lokesh’s proactive engagement. His meeting with LG’s Japan-based representatives in September 2024 proved crucial, as he highlighted Andhra Pradesh’s investor-friendly policies, fast-track approvals, and Rayalaseema’s potential to emerge as a global electronics hub.

Lokesh’s efforts also aim to repair the damage done to investor sentiment during the previous five years of chaotic governance, which saw the erosion of public trust and reckless mismanagement. By reviving the "Brand Chandrababu" legacy of industrial development, Lokesh is positioning Andhra Pradesh as a global investment destination.