More Incentives For Investments In Backward Areas: CM Naidu

“Speed of Doing Business” and promised incentivising investments in the backward areas.

Addressing the FICCI National Executive Committee, he described FICCI as the most influential body in commerce, trade, and policymaking, and stressed the value of platforms like Davos for fostering dialogue among politicians, business leaders, and academicians.

Naidu noted that he had attended World Economic Forum meetings at Davos every time he served as Chief Minister, reflecting his long-standing belief in global engagement.

The Chief Minister reiterated that economic reform and poverty eradication must go hand in hand. Citing the liberalisation spearheaded by late Prime Minister PV Narasimha Rao as a turning point in India’s economic history, he acknowledged Prime Minister Narendra Modi’s role in providing the kind of stable governance that has made India the world’s fastest-growing economy.

The State recorded 8.21% GSDP growth in 2024–25, making it the second-fastest growing State in India. He reported that the State's per capita income has risen higher than the national average. Over the past year, the state secured Rs.9.62 lakh crore in fresh investments,with a potential 8.79 lakh new jobs and cited major investment commitments from companies such as Ashok Leyland, Adani, JSW, Daikin, BPCL, LG, and Aramco, demonstrating the state's popularity as an investment destination.

The Chief Minister highlighted Andhra Pradesh’s infrastructural prowess, building three greenfield ports and seven greenfield airports. He also outlined three industrial corridors—Hyderabad–Bangalore, Chennai–Bangalore, and Visakhapatnam–Chennai. "By 2047, Andhra Pradesh will be the No.1 State on all parameters" he noted."Our capital, Amaravati, is being developed as a green field city, where people can enjoy good health and a high life expectancy. We invite investors and visionaries to be a part of AP's future," he stated.

Reflecting on his three-decade-long advocacy for technology, Naidu said he had promoted IT when it was virtually unknown in India, leading to the development of Hyderabad’s Hi-Tech City. Now, he said, Andhra Pradesh is moving into frontier areas like AI, quantum computing, commercial satellites, drones, and nanotechnology. He mentioned support from Bill Gates for implementing real-time health monitoring systems in the State, aimed at reducing hospitalization costs and enabling preventive healthcare.