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Syrma SGS eyes India’s largest PCB unit in Andhra Pradesh in Rs 1,800 crore play - The Economic Times

Economic Times

Economic Times · 1m ago

Syrma SGS eyes India’s largest PCB unit in Andhra Pradesh in Rs 1,800 crore play - The Economic Times

Syrma SGS Technology plans to invest Rs 1,800 crore in Andhra Pradesh to establish India’s largest PCB and CCL manufacturing unit by 2026-27. The facility, located near Tirupati, will reduce import dependency and boost domestic electronics manufacturing. Partnering with South Korea's Shinhyup Electronics, the project seeks government incentives and includes a research facility focusing on smart metering, healthcare, and electric mobility applications. Andhra Pradesh continues to attract significant electronics industry investments.

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ReNew Power to invest ₹22,000 cr in Andhra’s largest Green Project

Inshorts · 3m ago

ReNew Power to invest ₹22,000 cr in Andhra’s largest Green Project

ReNew Power will invest ₹22,000 crore to set up India’s largest hybrid renewable energy park in Anantapur, Andhra Pradesh. Featuring solar, wind, and battery storage, the project supports India’s 2030 clean energy targets. It will generate 1.8 GW solar, 1 GW wind, and 2 GWh BESS, creating 10,000 jobs and boosting Andhra Pradesh’s green energy ambitions.

Karnataka eyes $20 billion quantum economy; aims to outpace southern rivals - The Economic Times

Economic Times

Economic Times · 1m ago

Karnataka eyes $20 billion quantum economy; aims to outpace southern rivals - The Economic Times

Karnataka plans to develop a $20 billion quantum economy by 2035 through its 'Quantum Action Plan', focusing on research, manufacturing, education, and industry support. With incentives for startups and researchers, the state aims to leverage its strong tech base and infrastructure to outpace rivals like Andhra Pradesh. Collaborating with institutions like IISc and emphasizing intellectual property and production, Karnataka seeks to integrate quantum technology in sectors like health and education.

Google to invest $6 billion in southern India data centre, sources say - The Economic Times

Economic Times

Economic Times · 29d ago

Google to invest $6 billion in southern India data centre, sources say - The Economic Times

Google plans to invest $6 billion in a data center in Visakhapatnam, Andhra Pradesh, marking its first such investment in India. The facility will include $2 billion in renewable energy to power the 1-gigawatt data center. This project is the largest of its kind in Asia and part of Google's broader expansion strategy across the region. Andhra Pradesh aims to generate 6 GW of data center capacity over five years, emphasizing renewable energy.

Value retailer SuperK raises Rs 100 crore co-led by Binny Bansal, Mithun Sacheti; cricketer Shubman Gill joins as investor - The Economic Times

Economic Times

Economic Times · 1m ago

Value retailer SuperK raises Rs 100 crore co-led by Binny Bansal, Mithun Sacheti; cricketer Shubman Gill joins as investor - The Economic Times

SuperK, an Andhra Pradesh-based budget retail chain, raised Rs 100 crore in a Series B funding round, co-led by Binny Bansal’s 3STATE Ventures and Mithun Sacheti. Indian cricketer Shubman Gill also invested, alongside existing backers. SuperK, founded in 2020, operates 130 franchisee-led stores in 80 towns, focusing on affordable groceries and household essentials. The funding will enhance hiring and expansion, targeting India’s vast yet under-served grocery retail market, predominantly in Tier-II and smaller cities.

IBM, TCS team up for India’s most advanced quantum hub

Economic Times

Economic Times · 3m ago

IBM, TCS team up for India’s most advanced quantum hub

IBM and TCS are partnering to establish India’s largest quantum computer, IBM Quantum System Two, in Andhra Pradesh. This initiative aims to enhance quantum algorithm discovery and provide access to advanced technology for Indian developers. The partnership focuses on solving complex problems across various sectors, leveraging India’s strengths in software engineering and computing. The project aligns with India's quantum mission, emphasizing the potential of quantum computing to address challenges unsolvable by traditional computers.

82% of Andhra CM Naidu’s ₹931 cr wealth due to family shares in Manmohan-era retail firm

Livemint

Livemint · 7m ago

82% of Andhra CM Naidu’s ₹931 cr wealth due to family shares in Manmohan-era retail firm

Andhra Pradesh Chief Minister N Chandrababu Naidu's wealth, estimated at ₹931 crore, largely stems from his family's significant shareholding in Heritage Foods Ltd, a dairy firm established when economic reforms began in India. Naidu's wife, Bhuvaneswari Nara, holds a 24.37% stake valued at about ₹763 crore. Established in 1992, Heritage Foods capitalized on milk surplus and economic liberalization, growing significantly over the years. Currently, Naidu's family manages the company.

Hero Future Energies launches green hydrogen plant in AP for blending with piped & liquefied natural gas

Livemint

Livemint · 5m ago

Hero Future Energies launches green hydrogen plant in AP for blending with piped & liquefied natural gas

Hero Future Energies has inaugurated a green hydrogen plant in Tirupati, Andhra Pradesh, to supply Rockman Industries with a blend of green hydrogen, piped natural gas, and liquefied petroleum gas. This initiative, praised by Chief Minister N. Chandrababu Naidu, aims to reduce industrial emissions, setting a precedent for India’s energy transition. The state’s renewable resources and industrial demand position it as a potential leader in green hydrogen usage across various sectors.

IPO-bound LG Electronics India begins work on new $600 million plant

Economic Times

Economic Times · 3m ago

IPO-bound LG Electronics India begins work on new $600 million plant

LG Electronics India has started building its third plant in Andhra Pradesh, investing $600 million. This facility, located in Sri City near Chennai, will provide direct employment to 1,495 people and create 10,000 indirect jobs. The company's other plants are in Greater Noida and Pune. The IPO for its Indian unit, initially delayed due to market volatility, is now expected in the second or third quarter of fiscal year 2026.

Naidu government gets Rs 2,500 crore bill as Andhra Pradesh HC scraps Jagan-era power duty

Economic Times

Economic Times · 1m ago

Naidu government gets Rs 2,500 crore bill as Andhra Pradesh HC scraps Jagan-era power duty

The Andhra Pradesh High Court invalidated an increased electricity duty imposed by the previous YSRCP government on industrial and commercial establishments, which could cost the current Naidu administration approximately ₹2,500 crore. The duty hike to ₹1 per unit from 6 paise was contested by industries as discriminatory. The court's decision implies refunding excess collected amounts. The Naidu government is considering appealing to the Supreme Court and adjusting future consumer bills.

Apple Vendor Foxlink To Set Up New Unit In Tamil Nadu

Inc42 · 1y ago

Apple Vendor Foxlink To Set Up New Unit In Tamil Nadu

Foxlink, an Apple vendor and Foxconn affiliate, is reportedly building a new manufacturing unit near Chennai in India. The move comes after a fire at Foxlink's Tirupati unit last year, which caused significant damage. The new plant in Oragadam is expected to begin production soon, and Foxlink is looking to expand its product portfolio. This expansion follows difficulties in sustaining operations at the Andhra Pradesh facility. Foxlink manufactures cables, connectors, power management devices, and battery packs for consumer electronics companies, including Apple. Apple itself is increasing its production in India to reduce dependence on China.

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