Amravati (Andhra Pradesh) [India], June 15 : Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday said India is rapidly transforming into a global economic powerhouse and Andhra Pradesh is playing a crucial role in driving the nation's growth.
Addressing a meeting with leading venture capitalists during the first day of his Singapore visit, the Chief Minister noted that while countries such as China took decades to achieve high economic growth, India is advancing at a much faster pace under the visionary leadership of Prime Minister Narendra Modi.
The CM highlighted India's emergence as a global manufacturing hub, particularly in medical technology, advanced electronics and high-value industrial products. He pointed out that India possesses the world's largest youth workforce, creating a strong demographic advantage for sustained economic growth.
Emphasising Andhra Pradesh's role in India's manufacturing expansion, Chandrababu Naidu said the state is attracting major investments in defence and aerospace sectors, including projects related to fifth-generation fighter aircraft manufacturing.
He also outlined the government's "One Family - One Entrepreneur" policy aimed at fostering entrepreneurship and industrial development across the state.
Naidu informed investors that Andhra Pradesh has already facilitated fast-track approvals and land allotments for major projects, including the Advanced Medium Combat Aircraft (AMCA) program and investments by global companies such as Google and ArcelorMittal. He urged investors to capitalise on the state's investment-friendly environment and expanding industrial ecosystem.
Highlighting the success of industrial hubs such as Sri City, Chandrababu Naidu said Andhra Pradesh has integrated technology into governance and public service delivery, creating a transparent and efficient business environment.
He also showcased the opportunities available through the Ratan Tata Innovation Hub (RTIH), inviting venture capital firms to invest in startups nurtured through the hub and support cutting-edge innovations emerging from Andhra Pradesh.
Representatives from leading venture capital firms, including Origin Ventures, Autonomics, Elev8 Ventures, Optimum Solutions, Quona Capital and Jungle Ventures, participated in the interaction.
Earlier in the day, Chief Minister Chandrababu Naidu met Shilpak Ambule, High Commissioner of India to Singapore. During the meeting, discussions focused on strengthening economic and commercial cooperation between Singapore and Andhra Pradesh.
The Chief Minister emphasised that Singapore has been a valuable partner in Andhra Pradesh's development journey and invited Singaporean companies to explore investment opportunities in the state.
He highlighted the potential for investments in food processing, electronics, semiconductors, quantum technologies, robotics, medical devices, hardware and advanced manufacturing sectors.
Chandrababu Naidu noted that the development of new ports in Andhra Pradesh has created significant opportunities for shipbuilding, civil aviation and Maintenance, Repair and Overhaul (MRO) facilities. He also informed the High Commissioner about the state's initiatives to establish traceability and certification systems for horticulture products to enhance export competitiveness.
The Chief Minister sought Singapore's collaboration in emerging technology sectors and proposed stronger partnerships between educational institutions in Andhra Pradesh and Singapore to promote knowledge exchange, research and skill development.
Minister for Municipal Administration and Urban Development P. Narayana, Industries Department Secretary Yuvaraj, AP Economic Development Board CEO S. Shanmohan, Municipal Administration Principal Secretary Suresh Kumar and other senior officials were present during the meetings.