Vizag to Be Developed as a Trillion-Dollar Economic Corridor: Andhra Minister Nara Lokesh

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Amaravati–Andhra Pradesh aims to transform Visakhapatnam into a trillion-dollar economic corridor, announced State Minister for Education, IT, and Electronics Nara Lokesh on Monday. Speaking at the CII Partnership Summit Roadshow in Sydney, Lokesh outlined the state’s ambitious development vision and invited global investors to participate in Andhra Pradesh’s growth story.

Lokesh, who is currently on an official visit to Australia, emphasized that Andhra Pradesh has attracted investments worth over ₹10 lakh crore in just 16 months, reflecting the state’s rapid rise as a key investment destination in India. He reiterated the long-term goal of building a $2.4 trillion economy by 2047, aligned with India’s larger growth vision.

“Visakhapatnam is emerging rapidly as a data and industrial hub. With world-class infrastructure, 1,051 km of coastline, and pro-business policies, Andhra Pradesh is poised to become India’s next economic powerhouse,” said Lokesh.

Pitch to Global Investors

Inviting business leaders to the CII Partnership Summit scheduled for November 14-15 in Visakhapatnam, Lokesh assured investors of streamlined support and fast-tracked approvals.

“Once you sign an MoU with Andhra Pradesh, it’s no longer just your project — it’s ours too. We hand-hold every step of the way, ensuring expedited approvals and transparent governance,” he said.

Lokesh highlighted the state’s “speed-of-doing-business” approach and stressed that daily coordination — including WhatsApp updates between ministers and officials — ensures effective project execution.

He credited Chief Minister N. Chandrababu Naidu’s visionary leadership, citing his legacy in transforming Hyderabad and now steering Andhra Pradesh toward becoming a global innovation hub.

India’s Competitive Edge

Lokesh framed India’s evolving investment landscape as a race among progressive states, saying,

“When Indian states actively compete for investments, India wins. This is the new India — reforming rapidly and targeting a $30 trillion economy under Prime Minister Narendra Modi’s leadership.”

He added that Andhra Pradesh plans to create 2 million jobs in five years, driven by investments in tech, manufacturing, clean energy, and digital infrastructure.

Academic and Innovation Partnerships

As part of his Australia tour, Lokesh visited the University of New South Wales (UNSW), where he discussed partnerships in STEM, Artificial Intelligence, Renewable Energy, and sustainable agriculture.

He explored collaborative efforts in:

Joint degree programs and student exchanges

Establishing innovation hubs in Andhra Pradesh

Research on water management and sustainable farming

Public health and telemedicine

Smart cities and data-driven governance

UNSW officials, highlighting the university’s global standing and expertise in solar energy, quantum computing, and medical research, expressed interest in expanding collaborations with Andhra Pradesh.

“UNSW is committed to partnering with Indian states that are serious about innovation, execution, and impact — and Andhra Pradesh clearly fits that vision,” said a senior UNSW representative.

Strong Signal to Global Markets

With sustained investor interest, academic alliances, and a proactive policy environment, Andhra Pradesh is positioning itself as a front-runner in India’s economic transformation. Lokesh’s outreach in Australia is expected to pave the way for high-impact collaborations, with Visakhapatnam at the center of this growth narrative. (Source: IANS)

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