Hyderabad: J. Krishna Kishore, CEO of Andhra Pradesh Economic Development Board (APEDB), talked to The Sunday Guardian on a host of issues. The APEDB, chaired by Chief Minister Nara Chandrababu Naidu is the single point of contact for investments in Andhra Pradesh and is mandated to actively plan, promote and facilitate investments in the state, ensure ease of doing business, and take up various other activities for the sustainable economic development of the state.
Krishna Kishore talked to Kamal Shah in an exclusive interview about APEDB’s future plans for a sustainable economic growth in the state. Excerpts:
Q: With the large mandate that has been provided to APEDB, what are the end-goals that have been defined to synchronize the various activities that will be conducted by the organisation? Are these in alignment with the long-term strategies of the state?
A: The Andhra Pradesh Economic Development Board has been provided with an extensive mandate. Apart from spearheading sustainable economic growth, it is also a single point of contact for trade, investments, partnerships and collaborations in the state. The Board promotes inter-departmental coordination, conducts project facilitation and appraisal, engages with national and international investors, and government organisations, and mobilises funds for marquee projects in areas of economic significance. It is also a one-stop interface for all external engagements on behalf of Andhra Pradesh with foreign governments and departments, embassies, trade organisations, and multilateral bodies.
The long-term development goals of the state is reflected in the Chief Minister’s vision, which envisions transforming the state into a happy, inclusive, responsible, globally-competitive and innovation driven society through structural transformation and by sustaining double-digit economic growth to become among the three best states in India by 2022, the best state by 2029 and a leading global investment destination by 2050. All departments in the state are working towards achieving the common end goal through programmes for providing quality services, health security, agriculture and allied services, development of infrastructure, urban and rural development etc. APEDB is working towards bringing in investments and creating jobs for Andhra Pradesh, it is also transforming Andhra Pradesh from a low income economy to a high income economy by acting as a catalyst for sustainable growth. APEDB also leverages the brand value of the Chief Minister in attracting investments globally. CM Naidu is well-known internationally for his credibility, progressive and investor-friendly governance and has an excellent track record as a statesman and technocrat with laurels in executing development projects. This helps APEDB in positioning the state in various international trade shows, investor meets and conduct roadshows and draw synergies in international gatherings. Under the leadership of the Chief Minister, Andhra Pradesh leads the country by example as a power state in Ease of Doing Business (EoDB), infrastructure reforms, e-governance, attracting investments and energy efficiency and conservation. We are ranked No 1 in the Ease of Doing Business in India for the past two years. Andhra Pradesh is simultaneously reducing the Cost of Doing Business through investments in infrastructure, logistics, technological upgradation and skill development.
Q: Could you map out three most important assets of Andhra Pradesh that make the state an attractive investment destination?
A: The three main assets of the state are the people, abundant natural resources and the infrastructure of the state. The people of the state are led by the Chief Minister, who is a visionary par excellence. His work ethic and determination is an inspiration to the people of the state. Further, there is a spirit of entrepreneurship in the people of the state that complements the working style of the state leadership. Our state has entrepreneurs across sectors, classes and regions. The large educated and skilled workforce of the state further supports their endeavour. The infrastructure and natural resources of the state support the capabilities of the people. The state is in the process of developing 14 ports, 12 airports, a mega Aerotropolis airbase and an integrated road-network with inter-region connectivity and 888km of national inland waterways are being developed. The state is now a power surplus state and is in the process of further improving the quality of power supplied. The state is also blessed with natural geographic advantages, including a long coastline of 974 km with natural deep draft ports, rich mineral and petroleum deposits and a strategic geographical location. Andhra Pradesh is taking steps to accentuate these assets to become an important economic-gateway to the East. These assets will enable the state’s effort at sustaining a double-digit growth rate.
Q: Talking about investments in the state, what are the primary focus areas?
A: Andhra Pradesh’s port-led development makes it an ideal investment destination for automobile and auto components, electronics and hardware manufacturing, textiles, agriculture and food processing, pharmaceuticals and healthcare, logistics and infrastructure and tourism.
Q: What are the marquee investments that Andhra Pradesh has attracted; also what are the port-led export oriented reforms that have been initiated?
A: Over Rs 15 lakh crore of investments have been committed in the last four years and the state has attracted marquee investments like Kia Motors, Isuzu Motors, Hero Motors, Asia Pulp & Paper, Siemens-Gamesa, Ashok Leyland, Toray Industries, Lixil, Foxconn, Xiaomi, Flextronics, LG Chem, Franklin Templeton, HCL and ITC. As mentioned, Andhra Pradesh has a coastline of 974 km and six operational ports. Andhra Pradesh stands No. 3 in the country in terms of handling marine cargo and No. 1 on the East Coast in line with India’s “Look East Policy” and “Act East” policy. Andhra Pradesh stands at an advantageous situation with reference to port-based manufacturing due to coastal employment zones. The state government is setting up the Vizag Chennai Industrial Corridor and Chennai Bangalore Industrial Corridor to serve as engines of manufacturing.