Andhra’s economic revamp: Naidu rolls out roadmap to cross $2 trillion mark; eyes Rs 30 lakh crore investment in 5 years
Over the upcoming 2 decades, Andhra Pradesh might evolve into a $2 trillion state economy! A state taskforce led by CM N Chandrababu Naidu has laid out a roadmap to turn the state into a $2.4 trillion economy by 2047. The taskforce is co-chaired by Tata Sons chairman N Chandrasekaran and includes top industry leaders.Naidu said that the state aims for a per capita income of $42,000 by 2047 and plans to attract Rs 30 lakh crore in investments over the next five years.The map identified fifteen key districts that might contribute $1.72 trillion to the target.The framework focuses on identifying district-level growth areas, improving ease of doing business, and building infrastructure to support long-term development.It also highlighted investment opportunities in sectors such as medtech, marine products, and data centres in Visakhapatnam, as per an ET report.Tirupati is eyed for its electronics, defence, and space potential. The plan includes AI-driven solutions for health and education in NTR district, along with proposals for an AI City and Quantum Valley in Guntur.The report also suggested setting up independent institutions like a public debt management cell, a fiscal responsibility monitoring agency, and bodies to drive state-level transformation.The report highlights key sectors expected to drive growth, including agriculture, information technology, artificial intelligence, data, chemicals and petrochemicals, and the automotive industry.A third of this is expected to come from the green energy sector. “Achieving this ambitious target will require sustained annual growth of 15%,” he was quoted as saying.At the launch of the report, Chandrasekaran said that the goal is to unlock the potential of each region using technology, sustainability, and inclusion as the guiding principles.Other taskforce members include 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.
