New Delhi: A taskforce chaired by Andhra Pradesh chief minister N Chandrababu Naidu to build a framework for making the state a $2.4-trillion economy by 2047 has recommended district level growth points with focus on ease and speed of doing business and setting up infrastructure to enable growth in the state.
The panel is co-chaired by Tata Sons executive chairman N Chandrasekaran and has India Inc captains as its members.
The report has identified district-level growth areas and investment opportunities like medtech, blue economy, marine products and data centres in Visakhapatnam; consumer electronics, robotics, space, and defence in Tirupati; AI-driven solutions in health & education in NTR; and AI City and Quantum Valley in Guntur. It has identified top 15 districts that will likely contribute $1.72 trillion.
Broader fiscal measures including setting up an independent agency to monitor compliance of fiscal responsibility, setting up state institutions of transformation and establishing an independent public debt management cell were suggested as policy interventions. The report has also identified key segments driving growth, focussing on agriculture, information technology, artificial intelligence, data, chemicals and petrochemicals, and automative industry.
Naidu said the report "envisions Andhra Pradesh as a $2.4 trillion economy by 2047 with a per capita income of $42,000, in alignment with the national aspiration of Viksit Bharat @2047." He reiterated that the state is looking to attract investments of ₹30 lakh crore in the next five years. Of this, a third is likely to come from the green energy sector. "Achieving this ambitious target will require sustained annual growth of 15%," he said.
"The plan is to unlock the potential of each region. There is focus on inclusion, latest technology, artificial intelligence, sustainability," Tata Sons' Chandrasekaran said, while addressing the gathering at the launch of the report.
Other nine members of the task force included Chandrajit Banerjee, director general CII; Preetha Reddy, executive vice chairperson, Apollo Hospitals Enterprise; GM Rao, group chairman, GMR Group; and SN Subrahmanyan, chairman & managing director, Larsen & Toubro.
The panel is co-chaired by Tata Sons executive chairman N Chandrasekaran and has India Inc captains as its members.
The report has identified district-level growth areas and investment opportunities like medtech, blue economy, marine products and data centres in Visakhapatnam; consumer electronics, robotics, space, and defence in Tirupati; AI-driven solutions in health & education in NTR; and AI City and Quantum Valley in Guntur. It has identified top 15 districts that will likely contribute $1.72 trillion.
Broader fiscal measures including setting up an independent agency to monitor compliance of fiscal responsibility, setting up state institutions of transformation and establishing an independent public debt management cell were suggested as policy interventions. The report has also identified key segments driving growth, focussing on agriculture, information technology, artificial intelligence, data, chemicals and petrochemicals, and automative industry.
Naidu said the report "envisions Andhra Pradesh as a $2.4 trillion economy by 2047 with a per capita income of $42,000, in alignment with the national aspiration of Viksit Bharat @2047." He reiterated that the state is looking to attract investments of ₹30 lakh crore in the next five years. Of this, a third is likely to come from the green energy sector. "Achieving this ambitious target will require sustained annual growth of 15%," he said.
"The plan is to unlock the potential of each region. There is focus on inclusion, latest technology, artificial intelligence, sustainability," Tata Sons' Chandrasekaran said, while addressing the gathering at the launch of the report.
Other nine members of the task force included Chandrajit Banerjee, director general CII; Preetha Reddy, executive vice chairperson, Apollo Hospitals Enterprise; GM Rao, group chairman, GMR Group; and SN Subrahmanyan, chairman & managing director, Larsen & Toubro.
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