(MENAFN- KNN India)
Andhra Pradesh, Nov 1 (KNN)
Andhra Pradesh is emerging as a prime destination for investment, with its robust connectivity, extensive coastline, and business-friendly policies, as highlighted by Minister for Education, IT, and Electronics, Nara Lokesh.
In a recent interaction with representatives from the US-India Business Council (USIBC) and Indiaspora, Lokesh promoted the state's readiness to welcome new industries, detailing the many advantages that Andhra Pradesh offers for business expansion and development.
Lokesh emphasised that, under Chief Minister Chandrababu Naidu's leadership, the state is on a fast track to becoming a hub for startups and manufacturing.
The government is working to foster an ecosystem conducive to industrial growth, he said, supported by strategic measures to streamline approvals and speed up processes through a revamped Economic Development Board.
“Our commitment is clear – we want to make Andhra Pradesh a global leader in industrial development and innovation,” Lokesh stated.
Highlighting Andhra Pradesh's decentralised development model, Lokesh revealed targeted initiatives to position specific sectors within various districts across the state.
Anantapur is being groomed as a center for the automobile industry, Kurnool for renewable energy, Visakhapatnam for IT and pharmaceuticals, Prakasam for biofuel production, and the Godavari districts for aquaculture.
These sector-specific hubs aim to leverage each region's unique strengths and resources, driving employment and economic growth across the state.
Lokesh also shared insights on the ambitious Amaravati capital city project, set to commence construction with cutting-edge technology.
The development of this capital city aligns with the state's forward-looking vision, including the establishment of an Artificial Intelligence (AI) University, designed to cultivate expertise and train global leaders in technology.
This focus on skill development aims to ensure that Andhra Pradesh becomes a key contributor to India's knowledge economy.
Present at the meeting were Indiaspora founder M.R. Rangaswami and several high-profile executives from the US-India Business Council, including Kavita Mariyappan (Zscaler), Shiva Shivram (QuantumScape), and Ramakant Alapati (ULD Engineering Systems), all of whom discussed collaboration and investment potential in Andhra Pradesh's emerging sectors.
Minister Lokesh's pitch underscores a strong commitment to making Andhra Pradesh a focal point for industries looking to expand in India. With streamlined policies and focused investments, the state is well on its way to becoming a dynamic center for industry, innovation, and economic growth.
(KNN Bureau)
MENAFN01112024000155011030ID1108842329
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.