Tax reforms will enable 10 percent growth rate in future; nobody can stop India: Andhra CM

Visakhapatnam, Sep 5 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday said that 'nobody can stop India from moving forward' with the help of tax reforms, which have the potential to enable the country to grow at a rate of 10 percent in the near future.

Addressing a conference on mediation in the port city, attended by the judges of the Supreme Court and High Court, Chief Minister said India will become the 'number one economy globally' around 2047.

"With all tax reforms, we are growing six to seven percent now. There is a potential to grow at 10 percent in the near future. If all these things happen, then nobody can stop India from moving forward," said Naidu.

According to Naidu, E&Y predicted that India will become the second-largest economy in the world by 2038. He observed that India was the 11th largest economy 11 years ago but climbed up during this period to become the fourth largest.

Powered by the demographic dividend, the economy has a strong leader like Prime Minister Narendra Modi, Naidu said. Calling the judiciary a pillar of the constitution, CM said it protects democracy and the rule of law.

He said, the Indian Judicial system is known for its credibility, transparency and strong commitment to justice. "While there may be some delays at times, justice is always delivered. Every common man has hope of getting justice ultimately. I am proud of it," he said.

We the people of India, have immense faith in the judiciary, not just as an institution of law but as a pillar of justice, fairness and constitutional values, he said.

Emphasising on mediation, Naidu said this facet of justice delivery is part of Indian culture, invoking the role of Lord Krishna in Indian mythology but noted that the deity's mediation 'ultimately failed', hinting at the Mahabharata epic.

Even in villages, Naidu said the guidance of elders is sought to resolve disputes, and also stressed on the role of Panchayats in this effort, underscoring how mediation has helped India.

Further, the CM promised to extend government ecosystem support to make Visakhapatnam the biggest Alternative Dispute Resolution (ADR) Centre, even better than Singapore.

Underlining the importance of technology, he said it has become handy nowadays in virtual hearings, e-filings, mobile case updates, multi-lingual tools, and others to make justice delivery accessible and transparent.

Online dispute resolution platforms enable parties to resolve conflicts from anywhere in the world seamlessly, he said.

Further, Naidu said he always seeks guidance from the Supreme Court and Andhra Pradesh High Court Judges for doing better things. He called for reducing disputes to power economic growth.

Though Artificial Intelligence (AI) is available, Naidu said it should be used responsibly; otherwise, there will be problem.

Noting that Google will be arriving in the port city next month, Naidu said the southern state mobilised investments worth USD 100 billion in the last one year.

Likewise, he said Visakhapatnam will have more data centres than the entire country put together and added that a space city is coming up near Tirupati and will launch private satellites very soon. PTI STH ADB