Pawan Kalyan Says Amaravati Is Emerging As AP’s Financial Hub

The Deputy CM made these remarks after participating in the foundation stone-laying ceremony for constructing the head offices of 15 national banks and insurance companies in Amaravati.

Union finance minister Nirmala Sitharaman formally launched their construction at the event attended by Chief Minister N. Chandrababu Naidu, union minister P. Chandrasekhar, and state ministers Nara Lokesh, Ponguru Narayana, P. Keshav, Kandula Durgesh, and Nimmala Ramanaidu, besides MLAs and senior officials.

Addressing the gathering, Pawan Kalyan said simultaneous establishment of major financial institutions, such as Bank of India, Indian Bank, Bank of Baroda, IDBI and LIC in Amaravati capital city marks a significant milestone in Andhra Pradesh’s journey toward economic self-reliance.

“The banking street being developed will be the financial nerve centre of Amaravati. With key banks and financial institutions operating from one zone, economic activity and business transactions will accelerate. Investor confidence will rise, and that faith will transform Amaravati into a true financial hub,” the deputy Chief minister declared.

He disclosed that construction of these institutions will bring in investments worth ₹1,328 crore and generate employment opportunities for around 6,500 people.

Commending the farmers who sacrificed 34,915 acres of their land for building the state capital, Pawan Kalyan said the faith that farmers have reposed is the true foundation for the future of Andhra Pradesh.

“Today’s foundation isn’t just for buildings; it symbolises the groundwork for the state’s destiny. Amaravati will grow into a major financial, educational, research and administrative centre,” he underlined.

Highlighting central government’s extensive support, the Deputy CM recalled that during his visit to Visakhapatnam earlier this year, Prime Minister Narendra Modi had laid foundations for developmental works worth `2 lakh crore, creating employment opportunities for nearly 7.5 lakh people.

Similarly, reconstruction works in Amaravati have been initiated with central investment of ₹1.7 lakh crore. At the Super GST – Super Savings event held in Kurnool, the PM laid the foundation for projects worth ₹13,429 crore, including the Kopparthi-Orvakal industrial corridor that will create thousands of new jobs.

Further, the centre sanctioned a revival package of ₹11,000 crore for Visakhapatnam Steel Plant, ₹12,500 crore for Polavaram project, and ₹15,000 crore for Amaravati’s capital development.

Expressing his gratitude, Pawan Kalyan said, “The centre’s cooperation stands as a pillar behind the state’s resurgence. On behalf of the people of Andhra Pradesh, we convey our sincere thanks to the Prime Minister and union Finance minister Nirmala Sitharaman for their continued support and goodwill for the state.”