CM Naidu invites industrialists to invest in Andhra, calls next 10 years ‘inspiring’

Vijayawada, June 25 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday invited industrialists to invest in the state and experience its governance, terming the next 10 years as inspiring times that they cannot afford to miss.

Addressing the national executive committee meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) in Vijayawada, Naidu recalled that while he used to talk about the ‘ease of doing business’ earlier, he is now focusing on the ‘speed of doing business.’ “One thing I am asking you—invest in Andhra Pradesh, see the governance. Earlier, I used to talk about the ease of doing business; now, I am talking about the speed of doing business,” Naidu said.

Emphasising the importance of ‘speed of doing business,’ he said the TDP-led NDA government has held 24 cabinet meetings and an equal number of State Investment Promotion Board (SIPB) meetings to clear several proposals over the past year.

According to Naidu, the state has received investment proposals worth Rs 9.5 lakh crore so far, with the potential to generate 8.5 lakh jobs.

Over the past year, Naidu said his administration has been streamlined to instil confidence among investors. He highlighted that the state is home to three major industrial corridors: Visakhapatnam–Chennai, Hyderabad–Bengaluru, and Chennai–Bengaluru.

Calling green energy the future, Naidu urged FICCI members to adopt it. He said he has had a clear vision on energy from the beginning and recalled that he had started implementing solar, wind, and green energy projects in 2014, which have now matured.

Highlighting that the future lies in green energy, he said petrol and diesel vehicles are bound to become obsolete.

Calling on FICCI to contribute to national development, the TDP supremo stressed that welfare is possible only after wealth creation.

Noting that having Narendra Modi as the Prime Minister is an advantage, Naidu said the country is experiencing stable governance and gaining global respect. Emphasising that India is leading in economic growth today, he noted that the 1991 economic reforms made everyone think differently and innovatively.

At a time when many countries are grappling with an ageing population, Naidu said India is benefiting from its demographic dividend but cautioned that this advantage will last only till 2047.

Of India’s total population of 146 crore, Naidu said around four crore Indians live overseas, and called for this number to be increased to 30 crore to ensure Indians dominate global services across 150 countries.

Along the lines of Viksit Bharat (Developed India), Naidu said Andhra Pradesh has created the Swarna Andhra-2047 (Golden Andhra) vision, aiming to achieve a GSDP of USD 2.4 trillion by 2047.

Similarly, the state is targeting a 15 per cent growth rate this year.

Naidu reminded that the state achieved a growth rate of 13.5 per cent between 2014 and 2019, but this dropped to 10.3 per cent between 2019 and 2024 under the previous YSRCP government. According to him, this slowdown resulted in a loss of Rs 7 lakh crore in GSDP.

Speaking on Artificial Intelligence (AI), which he is promoting vigorously, Naidu said the technology may lead to job losses but will significantly boost productivity and income. Therefore, he stressed the need to work smart, not just hard.

Naidu also urged widespread adoption of digital currency and called for the abolition of Rs 500 notes.

The Chief Minister pitched his poverty alleviation programme, P4 or Public-Private-People Partnership (PPPP), to FICCI members, which encourages the top 10 per cent of society to adopt and mentor the bottom 20 per cent, helping lift them out of poverty.

Furthermore, he alleged that Brand Andhra suffered damage over the past five years and advised industrialists not to judge the state based on that period, assuring them that all necessary precautions are being taken to ensure stable governance.

Meanwhile, FICCI President Harsha Vardhan Agarwal said Andhra Pradesh holds immense potential and promised to work closely with the state government.

“We will work with the government and discuss how FICCI can contribute in areas like MSME development, which is one of our priority sectors. As FICCI, we are committed to enhancing the capabilities of MSMEs,” Agarwal told PTI. PTI STH SSK