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India is poised to become one of the most vibrant economies of the world and Andhra Pradesh in particular will play a key role in the country's growth story, Vice-President M Venkaiah Naidu has said.
He was speaking here on Saturday afternoon after inaugurating the annual three-day partnership summit of the Confederation of Indian Industry (CII), being held here for the third year in a row.
He said demonetisation and GST were two very important and revolutionary steps taken by the present Government and in spite of the initial disruption the long-term benefits justified the steps. The economy was back on track, he added.
Praising the leadership of both Prime Minister Modi and Chief Minister N Chandrababu Naidu, he said the Centre and the State would work together to build a new Andhra Pradesh and new India.
Earlier, Union Industry and Commerce Minister Suresh Prabhu said that despite challenges after the bifurcation the residual state of AP had made impressive strides during the past four years and the Centre would give all help to AP in its endeavour to become a modern industrialised state.
He said in the automobile sector in particular the State's progress had been impressive. "AP will become the auto hub of the country and Indian will ride in cars manufactured in the State. The cars will not only be made in AP, but they will be designed here," he said.
He said agro-processing was the other important sector AP should concentrate on because of its strong agricultural basis.
Chief Minister N Chandrababu Naidu welcomed the delegates to the third CII summit and assured them that the State would provide all infrastructural facilities and give clearances within 21 days of applications. He invited them to invest in the State on a large scale, He referred in particular to the Bhavanapadu greenfield port coming up in Srikakulam district. A memorandum of understanding was signed by the State with the Adani group for the construction of the port with an estimated investment of Rs 8,000 crore. Gautam Adani attended the CII summit.
Shobhna Kamineni, the president of the CII, also spoke.
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