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VP says South India could become a $1.5 trillion economy by 2025

Our Bureau Chennai | Updated on September 23, 2021

Advises leaders to focus on ease of doing business, attract investments, remove bottlenecks and learn from experience and others

Vice President M Venkaiah Naidu on Thursday advised all leaders of the South, heading their respective governments, to focus on Ease of Doing Business (EoDB); attracting investments; removing bottlenecks, if any; and learning from experience and the good practices of others.

CII Summit

Most of the southern States rank amongst the top in terms of EoDB in India. While each State will need to find its champion sectors to propel growth, any sector can be transformed into a champion if the enabling conditions for competitive businesses and gainful work opportunities are created, he said in his inaugural address at CII’s ‘Mystic South – Global Linkages Summit; Towards a $1.5 Trillion Economy by 2025’.

“Urbanisation is a big strength of the southern region, which should be leveraged. We also see agriculture as one of the top three opportunities for the region to flourish,” he added. He said that South India has all it takes to become a $1.5 trillion economy by 2025.

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While it could be an aspiration, it is certainly achievable. “There are many reasons to believe so,” he added. Some are South India being a classic example of ‘unity in diversity’, combining manufacturing with services, culture with modern values and education with skills, he said.

Powerhouse

The strength of the maritime sector in the region can contribute immensely to the nation’s growth and needs to be tapped to the fullest. Entrepreneurship has been and continues to be a strong point for southern success. It is important to note that start-ups have also started flourishing in smaller cities of the region, he said.

“When I see the States of South India, I see a powerhouse for the rest of India should emulate... At the same time, as all of us know, each State has its own unique culture and individual identity. The South is a region of high promise, potential and progress. It combines all the elements that make it unique, mystic and magical,” he said.

Published on September 23, 2021

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