VIJAYAWADA:The World Economic Forum (WEF) has agreed to set up a Satellite Centre in Andhra Pradesh for the Fourth Industrial Development proposed to be set up in India. The Satellite Centre is likely to work on the development of the policy frameworks and advance collaborations of stakeholders that accelerate the benefits of science and technology to usher in industrial growth in the State.
The WEF board members informed Minister for IT, Electronics and Communication Nara Lokesh of their decision on Wednesday. The Minister is in China to participate in the forum’s Annual Meeting For New Champions summit.
On the occasion, Lokesh explained that the State government was using 10 lakh Internet of Things (IoT) devices for real time governance. “Andhra Pradesh is set to become the focal point for the fourth industrial revolution. We need your support in leveraging technology including Big Data, IoT, Blockchain and others,” he said.
To this, the Centre for the Fourth Industrial Revolution MD and Head Murat Sonmez and forum’s CEO Sarita Nayyar said that the forum was ready to work with Andhra Pradesh. “We will soon visit Andhra Pradesh and enter into an agreement for establishment of a Satellite Centre,” they told the minister.
Lokesh also interacted with Saehong, the president and CEO of South Korean firm GS Global, which is into export, import and triangular trade of steel, coal/biomass, petrochemicals, industrial products, and imported automobile logistics businesses.