AP emerges as India’s SME powerhouse with bold economic roadmap
The state positioned as one of India’s fastest-growing states, with a current GSDP of $166 billion, an impressive 11% growth rate
image for illustrative purpose
Davos:The three-day Davos Global SME Summit concluded on Friday with a resounding spotlight on India’s growing influence in the global small and medium enterprise (SME) ecosystem. Andhra Pradesh, in particular, emerged as a frontrunner, presenting an ambitious roadmap to transform into a $2.4 trillion economy by 2047.
Leading the state’s delegation, Andhra Pradesh MSME, SERP and NRI Relations Minister Kondapalli Srinivas delivered a powerful address to global investors. He positioned Andhra Pradesh as one of India’s fastest-growing states, with a current Gross State Domestic Product (GSDP) of $166 billion and an impressive 11 per cent growth rate.
Srinivas outlined the state’s strategy to accelerate SME-driven growth by: Establishing new industrial parks and MSME clusters; Supporting startups with easier access to finance and global markets; Building robust infrastructure, including six operational ports (four more under development), six airports (three international), 8,600 km of national highways, and uninterrupted 24/7 power supply; Expanding its industrial land bank of nearly 100,000 acres.
Highlighting Andhra Pradesh’s leadership in Ease of Doing Business, the minister announced the launch of Single Window 2.0 to accelerate approvals under the “Speed of Doing Business” framework. He also emphasised green growth initiatives, noting that Andhra Pradesh is the first Indian state to introduce a decarbonisation subsidy.
The state’s plans include 175 MSME parks, cluster-based development in electronics, pharmaceuticals, automotive and renewable energy, and the establishment of the Ratan Tata Innovation Hub. Andhra Pradesh aims to create 2 million jobs in the next five years and achieve an annual GSDP growth rate of 15 per cent.
The delegation, which included APMSMEDC CEO Vishwa Manoharan and senior officials, attracted strong interest from investors, cementing Andhra Pradesh’s reputation as a hub for innovation, sustainability, and global partnerships. Some of the Pakistani delegates expressed appreciation for India’s dynamic participation, with particular praise for Andhra Pradesh’s inclusive growth vision.
Beyond Andhra Pradesh, Indian delegates highlighted the nation’s expanding role in shaping the global SME ecosystem. The summit offered exclusive VIP access to the Global SME Business Home Leaders Elite Group, a year-long global network designed to shape the future of enterprise ecosystems. Organisers extended visa assistance and support services to international delegates, ensuring seamless participation.
The summit which began on September 3 brought together entrepreneurs, policymakers, and thought leaders from around the world to exchange ideas on innovation, sustainability, and inclusive growth. As the curtains fell, India reinforced its image as a global SME powerhouse—while Andhra Pradesh took center stage with a bold economic vision that invited the world to join its growth story.
The Hans India, HMTV and Bizz Buzz are media partners for the three-day event.
