VIJAYAWADA: The Task Force report, ‘Towards Swarna Andhra Pradesh @2047,’ unveiled by Chief Minister N Chandrababu Naidu on Wednesday, projected that Andhra Pradesh - endowed with the third-longest coastline in the country and one of the largest land banks - is undoubtedly at a comparative advantage in becoming one of the champions of the country’s overall goal of achieving a USD 35 trillion economy over the next two decades.
In 2014–15, the State’s economy stood at USD 86 billion at current prices. By 2023–24, Andhra Pradesh’s economy had more than doubled, reaching USD 174 billion. This significant growth was achieved despite the formidable challenges posed by the bifurcation in 2014.
Looking ahead, while certain gaps remain to be addressed, the Task Force on Economic Development for Swarna Andhra Pradesh @2047 is confident that the State is well poised to take a leap toward achieving the vision of a “Swarna Andhra Pradesh” by 2047.
The report highlights that Andhra Pradesh has a diverse and multifaceted economy, enriched with natural resources and a 1,053 km-long coastline that offers a strategic vantage point for the development of sectors such as renewables, the blue economy, and others. Fertile river plains support agriculture and allied activities, while the mineral-rich districts of Rayalaseema present ideal conditions for the growth of mineral-based industries.
The report also notes that Andhra Pradesh is among the few Indian states with abundant land banks (50,573 acres), designated for industrial development. These land banks provide a strategic geographical advantage for the creation of sector-focused industrial zones, parks, and clusters.
“Coupled with ease, cost, and speed of doing business, the State offers an investor-friendly environment for both domestic and international players. Strategically positioned to lead India’s transition to a sustainable economy, AP holds immense potential to attract significant investments for developing a robust manufacturing ecosystem in green hydrogen and green ammonia. It also has the capacity to emerge as a leader in solar and wind energy,” the report stated.