Strong structural reform push, gaining investor confidence must for AP to achieve Swarna Andhra Pradesh Vision 2047: Taskforce

The Swarna Andhra Pradesh 2047 Vision, launched by N Chandrababu Naidu-led NDA Government, envisions Andhra Pradesh as a $2.4-trillion economy by 2047 
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A strong structural reform push, winning investor confidence on the continuity of policies despite political changes and fiscal prudence are the need of the hour for Andhra Pradesh to achieve targets of Swarna Andhra Pradesh Vision 2047, according to a special Taskforce on Economic Development set up by the State Government.

The Swarna Andhra Pradesh 2047 Vision, launched by N Chandrababu Naidu-led NDA Government, envisions Andhra Pradesh as a $2.4-trillion economy by 2047 with a per capita income of $42,000 with a sustained annual growth of 15 per cent in the Gross Domestic Product (GSDP). 

“The new State government must capitalise on this ‘once in a lifetime’ opportunity presented to them and reassess the policy framework to align with emerging global trends as well as the national agenda. The alignment with national policy framework is essential to ensure that the State’s growth strategies are in sync with the nation’s broader goals and objectives,” the report said.

The report of the Task Force on Economic Development for Swarna Andhra Pradesh @ 2047, Chaired by Naidu and Co-Chaired by N Chandrasekaran, Executive Chairman of Tata Sons, with experts drawn across the industry as members, was released on Wednesday. 

“The report is designed to serve as an implementation-ready roadmap. It reflects the optimism and readiness of a State poised to play a defining role in the country’s journey toward becoming a developed economy,” Chandrasekaran said.

Twin priorities

The twin priorities of high growth rate and livelihood and job creation can be achieved by the State by boosting competitiveness through a strong reform push, both structural and sectoral. Key focus areas would involve enhancing technological readiness and fostering innovation to enhance productivity, according to the report.

“While Andhra Pradesh’s services’ sector continues to thrive, a due focus needs to be placed on stimulating the agriculture sector as well as building a robust manufacturing hub in the State,”‘ the report said, adding that the focus sectors to prioritise include pharma and formulations, chemicals, ship building, electronics and automobile & auto components. 

The State Government should treat infrastructure, MSMEs, ease and speed of doing business, fiscal responsibility and balanced regional growth as some of the critical enablers for growth to achieve the vision.

With the third longest coast-line of 1,053 km, an abundant land bank of 50,573 acres, a scope for solar and wind energy, the State has inherent advantages to achieve the targets.

INVESTMENTS

To promote investments, the Taskforce suggested identification of new opportunities emerging in sectors such as the blue economy and renewable energy, and projects like the Capital city of Amaravati.

“The State Government should offer competitive investment incentives such as high-quality infrastructure, best-in-class investor facilitation, a well evolved industrial ecosystem, easy access to factors of production at competitive prices, and attractive financial incentives,’‘ it said, adding that the State should made an international brand as a State a global investment hub. 

“Andhra Pradesh is undoubtedly at a comparative advantage to become one of the champions of the country’s overall goal of achieving around $ 35 trillion target over the next two decades,’‘ the report said. 

While in 2014-15, the State’s economy stood at $86 billion at current prices, by 2023-24, it more than doubled to $174 billion despite the challenges of the State bifurcation in 2014, it added.

The members of the taskforce included Chandrajit Banerjee, Director General, CII; Preetha Reddy, Executive Vice-Chairperson, Apollo Hospitals; Suchitra Ella, Co-Founder & Managing Director, Bharat Biotech; Raj Reddy, Professor of Computer Science and Robotics, School of Computer Science, Carnegie Mellon University; Satish Reddy, Chairman, Dr Reddy’s Laboratories; GM Rao, Group Chairman, GMR Group; S N Subrahmanyan, Chairman & Managing Director, L&T; Venu Srinivasan, Chairman Emeritus, TVS Motor Company, and the Chief Secretary to govt of AP Andhra Pradesh K Vijayanand. The CII has supported the taskforce.

Published on July 16, 2025