Business News | Andhra Pradesh Eyes 15% Annual Growth, Seeks Investments in Tourism and Industry: CM Naidu

New Delhi [India], October 8 (ANI): Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday reiterated his ambition to achieve 15 per cent annual economic growth over the next two decades, as he invited domestic and international businesses to invest in the state's tourism, industrial and technology sectors.

Addressing a CII Partnership Summit event attended by Union Commerce and Industry Minister Piyush Goyal, Naidu said Andhra Pradesh has the potential to sustain strong economic growth through investments and industrial development.

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"We have the potential to grow 10 plus or 12 plus per cent. Personally, I am planning a 15 per cent growth rate," he said, adding that the ambition was to sustain such growth year after year for the next 20 years.

The target reflects the state's long-term economic ambitions, with the government seeking greater private investment and faster industrialisation to support growth.

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Making a pitch to investors, Naidu said, "In this endeavor, I am requesting all of you, if you miss investment, you will miss forever."

Highlighting tourism infrastructure, Naidu spoke about plans to develop Suryalanka as a major beach resort destination and establish a world-class convention centre in Visakhapatnam.

"Globally the best convention center will be in Visakhapatnam. That also we are building in the near future," he said.

He also highlighted the potential of Suryalanka beach to emerge as a major tourism destination, as the state seeks to expand investment in hospitality and related infrastructure.

Naidu said Andhra Pradesh wants to become a model for other states by demonstrating how development initiatives can be implemented across sectors.

"I want to produce a proof of concept in all aspects. Starting with natural farming," he said, referring also to industrialisation, technology and education.

He stressed that states have an important role in translating national development goals into projects on the ground.

The Chief Minister also invited business leaders and international delegations to participate in the CII Partnership Summit scheduled for November 12-13 in Visakhapatnam, describing the event as an opportunity to explore investment partnerships in Andhra Pradesh. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)