From Our Correspondent
Amaravati: In a significant step towards achieving the Swarna Andhra 2047 Vision, the Andhra Pradesh Planning Department signed a Memorandum of Understanding (MoU) with the Institute for Financial Management and Research (IFMR), a constituent of KREA University, to support the implementation of the state’s long-term development agenda.
Speaking on the occasion, Chief Minister N. Chandrababu Naidu reiterated the government’s ambitious goal of achieving a 15 per cent annual growth rate as part of the Swarna Andhra 2047 roadmap. He noted that Andhra Pradesh recorded a Compound Annual Growth Rate (CAGR) of 13.5 per cent between 2014 and 2019, while the current growth rate stands at around 11 per cent.
The agreement was formally exchanged between Piyush Kumar, Principal Secretary, State Planning Department, and Kapil Viswanathan, representing IFMR.
Under the partnership, IFMR will provide strategic and technical support for implementing the ten guiding principles of Swarna Andhra 2047. The institute will also assist in establishing dedicated Mission Cells aimed at achieving Gross State Domestic Product (GSDP) targets and accelerating economic growth.
As part of the collaboration, IFMR will work closely with the Andhra Pradesh government on flagship initiatives including the Zero Poverty Mission, Water Security Mission, and Deep Tech Mission. The institute will undertake field-level studies, offer policy recommendations, and suggest innovative solutions to support the state’s development objectives.
The Chief Minister said Andhra Pradesh is increasingly integrating deep technologies across sectors to fast-track economic transformation. He highlighted investments and projects in emerging sectors such as Artificial Intelligence (AI) skilling, drone mapping, automobiles, metals, steel, rare earth minerals, semiconductors, and defence manufacturing.
Naidu further emphasised that the state is promoting Artificial Intelligence and Quantum Technologies on a large scale to position Andhra Pradesh as a leading innovation-driven economy.
The agreement also provides for the formation of a State-Level Committee and Mission Working Groups to monitor and facilitate implementation of the ten guiding principles under the Swarna Andhra vision.
Finance Minister Payyavula Keshav, representatives of KREA University, IFMR, and senior officials of the Planning Department attended the event.
The MoU is expected to strengthen institutional support for Andhra Pradesh’s long-term economic strategy and help the state pursue its goal of becoming a high-growth, technology-led economy by 2047.