Visakhapatnam:Union commerce and industry minister Piyush Goyal on Thursday invited global investors to explore opportunities in Andhra Pradesh, praising the state’s efforts to speed up industrial approvals and strengthen investor confidence under Chief Minister N. Chandrababu Naidu.
Addressing the inaugural session of the 31st CII partnership summit here, Goyal said the state was moving beyond ‘ease of doing business’ to faster decision-making.
“While the world talks about ease of doing business, Andhra Pradesh is demonstrating speed of doing business,” he said, citing the state’s escrow account mechanism to ensure timely payment of industrial incentives.
Goyal said governance reforms and infrastructure development had helped AP overcome financial and administrative challenges and emerge as an attractive investment destination. He described Naidu as a visionary who had recognised the potential of artificial intelligence and quantum computing well before their widespread adoption.
The minister said the hosting of the summit in Visakhapatnam despite hits from the two recent cyclones reflected the citys resilience and recovery. The city has laid the red carpet for industrialists, ambassadors and delegates from across the world, he noted.
Referring to the city’s changing economic profile, Goyal said Visakhapatnam was evolving from a “Steel City” into a “Silicon City”, while Orvakal and Pudimadaka were emerging as green energy hubs.
He said India remained a trusted investment destination amid global economic uncertainty and intense competition. The country’s skilled young workforce, alongside foreign investment, was contributing to growth and strengthening its global competitiveness.
Goyal reiterated the Centre’s commitment to protecting intellectual property rights and helping industries produce globally competitive goods faster and more efficiently. He urged investors to explore opportunities in manufacturing, tourism and emerging sectors in AP and across India.
He also encouraged delegates to experience the state’s cultural heritage and participate in its economic growth.
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