AP gets into Swarnandhra Vision-2047 mode

With a series of domain-specific policies in place after the TDP-led NDA coalition formed the government in Andhra Pradesh, several mega investments are set to materialise in the near future.

The confidence-building measures initiated since N Chandrababu Naidu took over as the Chief Minister about six months ago, there seems to be a windfall of investments mainly in and around Visakhapatnam, Vijayawada, Krishnapatnam, Tirupati and few other places.

The Industrial Development Policy 4.0 (2024-29) envisaged an investment of Rs30 lakh crore and operationalisation of Rs5 lakh crore worth projects during the five-year period with a 16 per cent growth rate. The Swarnandhra Vision-2047 paints a rosy picture regarding the emerging industrial landscape with an ambitious target of transforming the State into a $2.4 trillion economy by 2047.

Being the largest city with a robust industrial infrastructure, Visakhapatnaman has remained the first preference for any investor. The city has good road and air connectivity with the existence of a government-owned major port and a minor port in the private sector.

The year is ending with a happy note after BPCL board cleared the proposal for pre-feasibility studies to set up a Greenfield refinery and petrochemical complex most likely in Nellore district. The project is expected to bring an investment from Rs.50,000 crore to Rs.1 lakh crore, AP industries Minister T.G. Bharath.