A rising political figure in Andhra Pradesh, Nara Lokesh, is spearheading a significant investment wave, securing over $120 billion in commitments from global corporations in just 16 months.
AMARAVATI, India, Nov 19 — Nara Lokesh, a 42-year-old Stanford MBA and influential political figure, is rapidly becoming the go-to contact for global corporations looking to invest in India. By leveraging his party’s strong ties to Prime Minister Narendra Modi, Lokesh has established a reputation for expediting billion-dollar projects, effectively navigating through India’s notorious bureaucratic challenges.
In just 16 months, Lokesh claims to have secured $120 billion in confirmed investment commitments for Andhra Pradesh, surpassing any other Indian state or union territory.
Among the notable investments are:
Google’s commitment to building a $15 billion data center, marking the company’s largest investment in India to date.
ArcelorMittal–Nippon Steel’s pledge of nearly $17 billion towards a 17.8-million-tonne steel plant, with the joint venture affirming its commitment to the multi-phase project.
“We no longer hold meetings just to exchange MoUs and pose for photos,” Lokesh stated. “Every meeting must produce outcomes.” His party, the Telugu Desam Party (TDP), governs Andhra Pradesh and plays a crucial role in supporting Modi’s national coalition.
“I want the state to move from ‘ease of doing business’ to the speed of doing business,” he added, emphasizing the need for swift action in securing investments.
As a key power broker in a coalition era, Lokesh’s influence is significant. Although Modi has been at the helm of India since 2014, his Bharatiya Janata Party (BJP) secured only 240 seats in the 543-member parliament during the last general election. This has made the ruling coalition heavily reliant on partners like the TDP.
For years, foreign investors have expressed frustration over India’s sluggish bureaucracy, complex tax structures, and rigid regulatory frameworks. Lokesh and his father, Chief Minister Chandrababu Naidu, are striving to present a new model of governance that addresses these concerns.
Their efforts have garnered high-profile endorsements. At a recent conference, Karan Adani of the Adani Group remarked, “Your ‘Speed of Doing Business’ mantra is not a slogan — we’ve experienced it firsthand.” Adani has committed an additional $12 billion in investment over the next decade, building on the $5 billion already invested in Andhra Pradesh.
Lokesh attributes the coalition partnership with providing Andhra “a voice at the table,” but he emphasizes that national support is only effective if states can execute swiftly. His ambitious goal is to secure $1 trillion in firm commitments before the 2029 national and state elections.
One of Lokesh’s significant achievements is the breakthrough with Google. As the state minister for human resources development and electronics, he learned in late 2024 that Google was seeking a location in India for a massive AI-focused data center. The tech giant required assurances on two critical issues: no retrospective taxation, which had previously troubled companies like Vodafone and Cairn Energy, and clarity on data interception rules, particularly concerning third-country AI data.
India currently permits interception for national security purposes. Lokesh quickly mobilized a team of young officials who coordinated directly with senior ministers in New Delhi. Within months, Google announced its landmark investment, scheduled to take place between 2026 and 2030.
While Lokesh declined to disclose specifics about the concessions made, he insisted that nothing illegal or improper was involved. “The goal is speed, not shortcuts,” stated Saikanth Varma, CEO of the Andhra Pradesh Economic Development Board.
Andhra Pradesh’s “spicy” investment formula has proven effective. ArcelorMittal–Nippon Steel considered several states, including those governed by the BJP, before ultimately selecting Andhra for its mega steel plant. Lokesh noted that Modi approved a crucial 200-kilometer slurry pipeline “within seconds,” which played a pivotal role in securing the deal.
Consultant Sanjeev Singh remarked that Andhra’s aggressive approach fosters healthy competition among states. However, he cautioned that it could lead to uneven industrial growth, labor shortages, and infrastructure strain in other regions.
Neighboring Karnataka, governed by the Congress party, acknowledged that it lost the Google data center opportunity because Andhra offered concessions on power, land, water, and taxes that Karnataka deemed too costly for its public.
As Nara Lokesh continues to drive investment in Andhra Pradesh, his efforts may reshape the state’s economic landscape and set a precedent for governance in India.
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