CM Nadiu Projects Andhra Pradesh as Gateway for Global Capability Centres
The CM spoke about the challenges AP faced after bifurcation but said his government was working to restore growth and confidence.
Visakhapatnam: Chief Minister N. Chandrababu has said the state government is dedicated to supporting entrepreneurs so as to build a robust economy.
Addressing the global capability business centre summit organised by the confederation of Indian industry (CII) here on Wednesday, Naidu shared the state's vision of becoming a 2.4 trillion dollar economy by 2047.
Citing his ‘One family, one entrepreneur’ initiative for AP, the CM said, “The goal is to empower at least one person in every household to become an entrepreneur. The Ratan Tata Innovation Hub, he said, would play a major role in nurturing new ideas and supporting aspiring business leaders.
Union finance minister Nirmala Sitharaman was among those present at the event.
Naidu released a report from the CII before he addressed industry leaders. He said, “AP boasts a skilled workforce that meets the demands of modern industries. Additionally, the state is focused on enhancing both the ease and speed of doing business to increase its competitiveness.
The CM spoke about the challenges AP faced after bifurcation but said his government was working to restore growth and confidence.
He outlined plans to boost the state’s economic growth through port-based industries, leveraging AP’s extensive coastline. “The logistics sector is a top priority, with ongoing efforts to connect ports, airports, roads, and railways in order to reduce transportation costs.”
“These projects will be developed through public-private partnerships,” he said.
Naidu said the Bhogapuram International Airport would begin operations by next August, while the airports in Visakhapatnam, Vijayawada, Tirupati, Rajahmundry, Kadapa, Orvakallu and Puttaparthi would enhance regional connectivity. Additionally, he cited plans for an international airport in Amaravati and a bullet train system linking Hyderabad, Amaravati and Chennai.
The CM noted that the Google data centre would be set up in Visakhapatnam by October and India’s first quantum valley is being developed in AP to advance technology. He referred to the Centre’s GST reforms, saying the reduction in tax slabs would be transformative.
