Experts stress on collaborative approach for turnkey projects

Visakhapatnam: The Confederation of Indian Industry (CII) Andhra Pradesh stress-ed on the importance of indigenisation by creating a shared ecosystem.

With industrial development, the demand for skilled persons will in-crease across the state. “The skill set needs to be enhanced to meet global standards. Small and medium scale indu-stries should focus on long-term sustainability rather than short-term gains,” Naval Do-ckyard Admiral superintendent Kiran Deshmukh said.

He participated in the CII Economic Conclave on the theme ‘Unlock-ing the economic potential of Andhra Pradesh’.

On the occasion, experts stressed on the need to develop the ability to fulfil turnkey pro-jects through a collaborative approach.

AP Economic Develop-ment Board CEO J. Krishna Kishore said that the state is emerging as a major electronics and manufacturing hub. There is significa-nt growth in the industrial development and per capita income, whi-ch will definitely lead to overall development.

Focussing on multi-sector technologies, AP Med Tech Zone MD and CEO Dr Jitendar Shar-ma suggested fast-paced economic development. He identified the need for sector specific tariff revision to drive gro-wth.

He also suggested that a star rating system for start-ups to assess their credibility would be helpful.

The state is undergoing a structural transformation to be a globally competitive society, and is likely to becoming the most preferred global investment destination by 2050.

Growth performance of the state in the recent past is most impressive with an average growth of 11 per cent during the last three years.

Despite an impressive rise in the performance of industries, the fruits of development are not fully percolating down to the last mile, Mr Sharma  said.