Investopia Global summit: CM Naidu bats for Amaravati as emerging investment destination for IT

Vijayawada: Chief Minister N Chandrababu Naidu inaugurated the Investopia Global Andhra Pradesh 2025 summit in Vijayawada on Wednesday, highlighting the State’s immense potential as a preferred investment destination and reinforcing India-UAE economic ties.

Gateway for international business relations

The summit featured four key sessions.

The first session showcased Andhra Pradesh as a gateway for global investment, followed by discussions on deepening AP-UAE cross-border business partnerships. The third session explored AP-UAE collaborations in powering digital economies, focusing on AI and data centres, while the final session emphasised the Indo-UAE food corridor, with themes like agri-tech, food processing, and food security.

Several MoUs signed

On the occasion, several MoUs were exchanged between the Andhra Pradesh Economic Development Board and Investopia, further strengthening bilateral cooperation.

The chief minister lauded the UAE’s transformation, especially Dubai’s emergence as a global hub, and appreciated the leadership of UAE’s Minister of Economy, HE Abdulla Bin Touq Al Marri, for his vision and commitment.

“During our meeting in Davos in January, I invited His Excellency to Andhra Pradesh. He kept his word, and today we stand here together. Just as they launched Dubai Internet City, I initiated Hitec City in Hyderabad. The UAE’s progress is truly impressive,” said the chief minister.

India-UAE Relations: A shared growth story

CM Naidu highlighted the strong India-UAE ties, noting that Indians constitute nearly 38 per cent of the UAE’s population, contributing significantly to its growth.

“India is in a sweet spot globally. We have a demographic advantage that will last for the next 20–25 years,” he said, reiterating that India and Andhra Pradesh are among the most attractive investment destinations today.

The CM added that India, under the leadership of Prime Minister Narendra Modi, has seen remarkable progress.

“From being the 11th largest economy, India is now the 4th largest. We aim to become the third largest by 2027–28 and the world’s largest economy by 2047, aligning with our Viksit Bharat vision,” he noted.

Leveraging technology for growth and governance

CM Naidu emphasised technology’s transformative role in governance.

“I promoted IT in the mid-90s. Today, one in four IT professionals globally is from India, and among every four Indians in the tech sector, two are from the Telugu community,” he said.

He announced the upcoming Quantum Valley in Amaravati, a joint venture with IBM, TCS and L&T. “Quantum computing operations will begin by January 1, 2026. If the US has Silicon Valley, India will soon have Quantum Valley in Amaravati,” he declared.

Further, the CM said Andhra Pradesh is implementing WhatsApp governance, offering 575 services online. “By August 15, citizens will no longer need to visit government offices. Investors will receive all approvals digitally, and I personally assure complete support and handholding for success,” he stated.

Investors are partners in progress

Laying out a bold economic roadmap, CM Naidu said the State is targeting a $2.4 trillion economy and a $43,000 per capita income by 2047. Through the P4 (Public-Private-People Partnership) model, high-net-worth individuals will be encouraged to uplift the bottom 20% of society to reduce inequality.

“I consider investors as nation-builders. Andhra Pradesh has moved beyond Ease of Doing Business to Speed of Doing Business. With our long coastline, ports, airports, fertile land, and renewable energy potential, AP stands out as a strategic location,” he said.

CM Naidu concluded by announcing plans to launch direct Hajj flights from Amaravati, and expressed gratitude for the opportunity to develop two capital cities in his lifetime. “I assure you—your investment will grow, and together, we will ensure time-bound completion of all projects,” he affirmed.

Andhra aims for $2.5 trillion economy by 2047

IT Minister Nara Lokesh, while speaking at the INVESTOPIA event, said, “Our generation is lucky—we’re able to witness industrial revolutions in quick succession. In the past, we’ve seen how airports transformed entire economies. Just look at Hyderabad Airport, which I believe now contributes 16 to 18 per cent of Telangana’s GDP.”

Adding further, he said, “I believe that’s exactly what data centres can do. They can be the nucleus for innovation and help kickstart massive economic activity. This was the foresight we had way back in 2017–18, even before ChatGPT existed in its current form. That’s when we brought everyone together to come to Visakhapatnam and envisioned it as the data city of India. The last five years have been a setback, but now we’re accelerating the journey. We want to lead the entire data revolution in India, and we believe we have the right ingredients in Visakhapatnam.”

Citing similarities between India and UAE, minister said, “The UAE and India have a lot in common. There’s no doubt—India is the future. We will be a $30 trillion economy by 2047, and Andhra Pradesh will be a $2.5 trillion economy by then. We have great aspirations, and we have the fire within us to actually deliver this.”

United Arab Emirates (UAE) Minister of Economy HE Abdulla Bin Touq Al Marri expressed strong optimism about Andhra Pradesh’s investment potential during his address at the INVESTOPIA event. He emphasised the state’s rapid transformation, strategic advantages, and visionary leadership.