NEW DELHI — In a landmark moment for Andhra Pradesh’s economic trajectory, Chief Minister
Chandrababu Naidu and Tata Sons Executive Chairman N. Chandrasekaran jointly released the Task Force Report on Economic Development for Swarna Andhra Pradesh@2047 at an event held in New Delhi yesterday. The report outlines an ambitious yet meticulously planned roadmap to transform the state into a USD 2.4 trillion economy by 2047, up from its current GDP of approximately USD 180 billion.
The blueprint is the outcome of a high-powered task force chaired by Naidu, with Chandrasekaran serving as Co-Chairman. Developed in collaboration with the Confederation of Indian Industry (CII), the document outlines strategic reforms, sectoral priorities, and governance models that aim to catapult Andhra Pradesh into the league of globally competitive economies.
“Our Project Is Your Project”: Naidu Sets the Tone
“We have a very ambitious vision,” declared Chief Minister Naidu while unveiling the report. “By 2047, we want to reach USD 2.4 trillion in GDP from USD 180 billion now. Our goal is to raise per capita income from USD 3,400 to USD 42,000 and push exports past USD 450 billion.”
Naidu emphasised Andhra Pradesh’s competitive advantages—its 1,053 km coastline, substantial land banks, robust agricultural base, and skilled human capital. “Andhra Pradesh is not just open for business—it’s ready for transformation,” he said. “Once you join hands with us, your project becomes our project.”
In a nod to the state’s technological ambitions, he spotlighted the digitisation of health records in Kuppam, a pilot project developed in partnership with the Tata Group. “From WhatsApp governance to AI-driven healthcare, we are using technology to improve lives,” he said.
The Chief Minister also made a passionate pitch for equitable development. “We are asking the wealthy to invest in people as capital. When we lift the weak, the entire society rises,” he added.
Chandrasekaran Backs Naidu’s Vision
Echoing Naidu’s optimism, Chandrasekaran lauded the Chief Minister’s far-sighted leadership. “The vision of our Hon’ble CM to lead Andhra Pradesh to glory is just phenomenal,” he said. “From $170 billion today, his goal is to push the state’s economy to $2 to $2.5 trillion by 2047, growing at 15% CAGR for two decades.”
Chandrasekaran underlined the importance of regional growth in India’s broader aspiration for Viksit Bharat by 2047. “This is not just a state-level ambition; it is critical to the nation’s future. Andhra Pradesh has what it takes to be one of India’s champion states.”
Sectoral Priorities and Growth Enablers
The report outlines growth strategies across 16 high-potential sectors, including food processing, aquaculture, life sciences, electronics, and advanced manufacturing. It also identifies emerging sectors such as renewable energy, quantum computing, AI, and the blue economy as key to Andhra Pradesh’s next growth wave.
The top 15 districts—including Visakhapatnam, Tirupati, Guntur, and Anantapur—currently contribute 72% of the state’s GDP. According to projections, these districts are expected to contribute nearly USD 1.7 trillion to the overall USD 2.4 trillion target by 2047.
The report also emphasises the importance of Global Capability Centres (GCCs) and cites LinkedIn’s “Cities on the Rise” report, which ranked Visakhapatnam and Vijayawada among India’s fastest-growing non-metro job markets. “These rankings reflect the impact of our forward-looking industrial policies,” Naidu noted.
At the heart of the report lies the 4P development model—Public-Private-People Partnership—designed to ensure that policy priorities align with public aspirations and the strengths of the private sector. Supporting this is the 4C implementation philosophy: Convergence, Competition, Collaboration, and Continuity.
This model highlights the inclusive nature of the envisioned growth. The report stresses citizen welfare, sustainability, and robust monitoring frameworks at both the district and constituency levels.
Recommendations to Boost Investor Confidence
To attract large-scale investments, the task force recommends introducing a legislative framework that protects previously announced incentives, regardless of changes in political leadership. It also calls for immediate clearance of overdue payouts to rebuild industry trust.
“The government must restore investor confidence before addressing other systemic issues,” the report notes, suggesting the formation of an independent policy implementation body to track progress and resolve bottlenecks.
Reining in Fiscal Pressures
The task force didn’t shy away from highlighting Andhra Pradesh’s challenging fiscal scenario. With total liabilities exceeding 40% of GSDP, the report calls for establishing an independent public debt management cell, strengthening the State Finance Commission, and launching State Institutions of Transformation (SITs) in collaboration with NITI Aayog.
Long-term sustainability, the report suggests, hinges on greater capital efficiency, fiscal prudence, and a glide path to debt consolidation.
With over 8.6 lakh registered MSMEs, the sector is a backbone of the state’s economy. The task force recommends reforms to improve access to finance for MSMEs, enhance digital readiness, and increase export competitiveness.
On skilling, the report urges alignment of curricula with industry needs and calls for sector-specific skill centres, faculty immersion programmes, and National Occupational Standards to future-proof the workforce.
Infrastructure is another major focus area. Projects like the Amaravati Ring Road, logistics parks in Anantapur and Visakhapatnam, and new EV corridors are earmarked as critical enablers. Special investment regions and port-led industrialisation are also part of the roadmap.
A Blueprint Aligned with National Vision
Releasing the report, Naidu remarked, “This document is a comprehensive blueprint for economic growth. Having achieved the Vision 2020 goals, we are now setting even more ambitious targets.”
He emphasised that Swarna Andhra’s objectives are fully aligned with Prime Minister Narendra Modi’s Vision 2047 for a Vibrant India. “We are not just dreaming—we are detailing every step to achieve it,” Naidu added.
“An Investor’s Dream”
Chandrajit Banerjee, Director General of CII and a member of the task force, was also acknowledged for his role in leading the development of the report. CII served as the secretariat, coordinating consultations with entrepreneurs, MSMEs, government departments, and civil society across all regions of the state.
“CII believes Andhra Pradesh has the ingredients—resources, talent, and political will—to be a growth champion for India,” Banerjee said.
The event concluded with a resounding message from Naidu: “Investing in Andhra Pradesh is a once-in-a-lifetime opportunity to contribute to India’s extraordinary rise. We are building not just an economy, but a model for sustainable, inclusive growth. Andhra Pradesh is poised to lead, and we welcome the world to be part of this journey.”
