‘Sri City attracted ₹3,750 crore of investments in 2024, provided 17,000 jobs’

Sri City, an integrated business city located in A.P.’s Tirupati district, ended calendar year 2024 by attracting investments of ₹3,750 crore and has provided jobs to more than 17,000 people, according to its founder.

“The investment highlights exceptional performance of Sri City in a year that was interrupted by elections in India and the U.S. The creation of new jobs will strengthen livelihoods and employment opportunities in and around our premises,” its founder and managing director Ravindra Sannareddy said during an interaction.

Stating that 2024 had been another remarkable year, he said that Sri City had yet again proved to be an “undisputed leader” when it came to driving economic growth, generating employment and advancing sustainable development.

According to him, more than 220 companies from 29 countries have invested in Sri City, representing a diverse manufacturing portfolio consisting of automobiles, air-conditioning, electronics, engineering, formulations, FMCG, food processing and warehousing among others.

The cumulative exports since inception stands at $4 billion.

Mentioning that construction is an ongoing activity in Sri City, Mr. Reddy said, “The entrepreneurs don’t stop with one unit. They keep on expanding. Currently, nine companies have started construction activities, 16 units commenced full-scale operations and nine units expanded to meet growing demands,” he said.

With over 26 Japanese companies, Sri City has quickly grown to become India’s second-largest investment destination for Japanese brands.

Mr. Reddy said Sri City is also known as ‘a gateway for manufacturing activities’, as ‘cool capital’ since it has the maximum number of air-conditioning facilities, and as ‘Shree City’ since it employs more women.