Is Andhra Pradesh the next big aerospace hub? Raymond Group invests INR 1,000 crore

Amaravati: In a major boost to Andhra Pradesh’s industrial growth, the Raymond Group has announced two major investments worth INR 1,000 crore under the state’s Industrial Development Policy 4.0 (2024–29). The projects, focused on aerospace and automotive component manufacturing, are expected to create more than 5,400 direct jobs in Sri Satya Sai District.

This marks Andhra Pradesh’s first aerospace investment under its new aerospace policy and highlights the state’s growing ambition to become a hub for advanced and high-tech manufacturing.

Raymond Group’s subsidiary, JK Maini Global Aerospace Limited, will set up a state-of-the-art aerospace manufacturing facility in Sri Satya Sai District with an investment of INR 510 crore. The facility will produce precision components for global aircraft manufacturers and Tier-1 suppliers, linking Andhra Pradesh to the global aerospace supply chain. The project is expected to create 1,400 direct jobs, with commercial production scheduled to begin by May 2027.

Another Raymond subsidiary, JK Maini Precision Technology Ltd, will invest INR 430 crore to establish an automotive component manufacturing plant at Gudipalli. The project will generate around 4,096 direct jobs and is also set to begin production by May 2027. The plant will serve leading automobile companies in India and abroad, further boosting the region’s employment and technical skill development.

The Andhra Pradesh government has approved a special incentive package of INR 700 crore to fast-track both projects. These approvals were cleared during a State Investment Promotion Board meeting chaired by Chief Minister N. Chandrababu Naidu, following detailed recommendations from the State Investment Promotion Committee.

To ensure smooth implementation, the state’s Industries and Commerce Department will provide full facilitation support through a dedicated Project Management Unit and the Single Desk Portal 2.0, as part of its “Speed of Doing Business” initiative.

Officials said that these large-scale projects will encourage ancillary industries, create skill development opportunities, and position Andhra Pradesh as a national hub for precision engineering and advanced manufacturing.

With Raymond Group joining other major investors like Google in the state’s development journey, Andhra Pradesh is fast emerging as one of India’s most attractive destinations for high-technology industries and global investments.