From Our Correspondent
Melbourne (Australia): Andhra Pradesh Minister for Education, IT and Electronics Nara Lokesh has said that the state is on course to transform into a global economic powerhouse by 2047, targeting a $2.4 trillion economy driven by technology, innovation, and sustainable development.
Speaking at a roundtable meeting with executives of Austrade (Australian Trade and Investment Commission) in Melbourne, Lokesh said Andhra Pradesh, under the leadership of Chief Minister N. Chandrababu Naidu, had already attracted $117 billion in investments in just 16 months. “This momentum reflects the vision and governance experience of our leadership,” he said.
Lokesh outlined key sectors driving growth—aerospace and defence, agritech, food processing, semiconductors, green hydrogen, logistics, pharma, tourism, and deep-tech—and emphasized that Andhra Pradesh’s policy stability, logistics strength, three economic corridors, and skilled workforce have made it one of India’s most competitive investment destinations.
He said quantum computing, AI-based governance, and green energy will serve as the state’s pillars of future growth. The government has rolled out Industrial Development Policy 4.0 and 24 thematic policies to facilitate industry-specific investments.
Highlighting Andhra Pradesh’s vast 1,053 km coastline, Lokesh said six operational ports currently handle 193 million metric tonnes (MMT) of cargo annually, with four new greenfield ports set to raise capacity to 350 MMT next year. The state already contributes 40% of India’s east coast cargo traffic and plans to raise exports from $20 billion to $450 billion by 2047.
He said Visakhapatnam is emerging as a major IT, innovation, and data hub, with Google investing $15 billion to set up an AI hub, and ArcelorMittal building India’s largest steel plant at a cost of ₹1.35 lakh crore. “Visakhapatnam is now the gateway for global investment and will evolve into a $1 trillion economy by 2047,” Lokesh added.
In a major technological leap, Lokesh announced that Amaravati will host South Asia’s first 156-qubit quantum computer from January, positioning Andhra Pradesh at the forefront of India’s digital transformation. The Quantum Valley in Amaravati, he said, will include a State Data Lake, Aware Hub, Intelligence Layer, and advanced digital governance systems.
Lokesh invited Australian investors to attend the Partnership Summit 2025 to be held in Visakhapatnam on November 14–15, and witness firsthand the “transformational opportunities” Andhra Pradesh is offering to the global investment community.