Raymond to invest ₹1,200 cr in Andhra; garments, auto, aerospace in focus

Raymond's ₹1,200 crore investment in Andhra targets garments, auto parts, and aerospace as part of the state's new industrial drive alongside ₹28,546 crore in SIPB approvals

Amid rising industrial interest in Andhra Pradesh, Raymond Group plans to invest ₹1,200 crore in the state, focusing on garments, auto components, and aerospace manufacturing, Moneycontrol reported.

 

The proposed investment aligns with Raymond’s broader diversification strategy, which extends beyond textiles into engineering, defence and high-precision sectors. The company entered the aerospace and defence space in November 2023 through the ₹682 crore acquisition of a 59.25 per cent stake in Maini Precision Products.

 

The announcement comes as part of the state government’s proactive drive to attract investment. Andhra Pradesh is offering capital subsidies of up to 30 per cent and 100 per cent electricity duty exemption for ten years to incentivise industrial activity.

 

Chief Minister N Chandrababu Naidu is also focused on developing the Andhra side of the Bengaluru border as an aerospace corridor, state officials told Moneycontrol.

 

Raymond has yet to issue an official statement regarding the proposed investment.

 

Andhra’s SIPB clears ₹28,546 crore in new projects

 

Raymond’s investment forms part of 19 industrial proposals recently approved by the Andhra Pradesh government. At the seventh meeting of the State-Level Investment Promotion Board (SIPB), projects worth ₹28,546 crore were cleared.

 

Among the major investors is the Adani Group, with commitments totalling ₹18,910 crore. These include a ₹8,010 crore renewable energy project in Kadapa by Adani Renewable Energy Fifty One, and investments worth ₹10,900 crore by Adani Hydro Energy Four and Adani Hydro Energy One across various districts. Together, the Adani projects are expected to create around 10,500 jobs.

 

Other significant proposals include Cognizant Technology Solutions India’s ₹1,583 crore centre in Visakhapatnam, projected to create 8,000 jobs in three phases; a ₹1,622 crore facility by Reliance Consumer Products at Orvakal; and a ₹2,323 crore green energy project by Chinta Green Energy in Kadapa.

 

High job potential across sectors

 

Collectively, the 19 approved projects are expected to generate employment for 30,270 individuals across the state.

 

Since its inception, the SIPB has approved ₹5,34,684 crore worth of investments over seven meetings, with a projected job creation potential of 4,73,969 roles—signalling Andhra’s strategic push to become a national manufacturing and innovation hub.