With all the wait and anticipation that the results of the 2024 elections brought industry seems to have ecstatically cheered the return of Mr Nara Chandrababu Naidu whom the voters of the state of Andhra Pradesh emphatically voted back to power in large numbers.
Often hailed for his vision and leadership in developing the state, Industry leaders are optimistic that Mr Naidu will revive the momentum and focus on further developing the state’s infrastructure, economy, and industries.
These industry expectations stem from Mr Naidu’s affable perception of being a CEO, an Industry friendly leader armed with his previous successful terms as chief minister and garnering huge investments for the state.
And with the unavoidable Naidu-Modi bonhomie at display industry foresees a healthy and dynamic economic scenario in the state of Andhra Pradesh.
‘It is with a deep sense of enthusiasm that we welcome back Mr Chandrababu Naidu as the CM of Andhra Pradesh. We have no doubts that he will continue his efforts to lead the great state of AP to the pinnacle of success and great heights which AP deserves to be at’ said one of the doyens of the ports and shipping fraternity Mr Krishna Bhai Kotak, Chairman of the JM Baxi group speaking to Vizag Industrial Scan.
Conversing with some of the leading Captains of Industry gave a sense that they had been yearning for Mr Naidu’s comeback given us passion for business and industry.
“The election results surprised no one. People wanted more than handouts. They craved development, jobs, and a return to safety. Now, with a new government, there’s hope.
People feel secure and optimistic” said Mr. V Prabhu Kishore, one of the most celebrated industry leaders of Andhra Pradesh and the Founder and Chairman of Varun Group.
Concurred Sri City’s founding managing director Dr. Ravindra Sannareddy and said ‘This triumph clearly demonstrates the people’s confidence in Mr Naidu’s leadership and vision for the state’s development.’
He extended his heartfelt congratulations to Mr. N. Chandrababu Naidu, Mr. K. Pavan Kalyan of Janasena, and Ms. D. Purandeswari of the Bharatiya Janata Party (BJP), on their outstanding success in the recent elections.
Industry body CII too hailed the return of Mr Naidu and the strong mandate it had received. ‘We are optimistic about the new government’s strong mandate and alignment with the central government, which promises better support for Andhra Pradesh said CII AP chairman and Managing Director, Mahatma Gandhi Cancer Hospital and Research Institute, Visakhapatnam, Dr. V Murali Krishna.
Similarly regional industry body AP Chambers of Commerce and industry federation lauded Mr Naidu’s re-election and said this augurs well for industry.
“We are confident the government will uphold its election promises despite challenges like financial crises and developing a greenfield capital city.
Over the last 4-5 years, domestic and state investors have hesitated to invest, and attracting outside investors is crucial. The AP Chamber has prepared a 2024-2029 roadmap for rapid economic development, highlighting low-hanging fruits and decisions that can boost public confidence without financial burden” said APCCIF president Mr Bhaskara Rao.
Industry leaders are expecting Naidu to prioritize the development of key sectors such as IT, pharmaceuticals, startups, etc which have the potential to drive the state’s economic growth.
Speaking on the state’s IT&ITES sector leading IT entrepreneur from the state Mr Krishna Mohan, Founder & Managing Director, Inspiredge IT Solutions Pvt Ltd, said,
“The previous government’s stance against industry halted development, leaving Andhra Pradesh lagging in IT. Post-bifurcation, AP’s IT sector has seen minimal progress.
We hope the new government collaborates with the central government to address long-pending issues within 100 days”.
He also advocated for a new IT policy which can provide renewed impetus to the sector. Albeit the industry effuses optimism on the 2024 election results there are myriad challenges in front of the new government from the gargantuan debt level to creating new jobs, garnering investments etc.
Mr Prabhu Kishore strongly advocated the government to play the role of a facilitator and providing operative independence to the private sector.
‘No doubt the government has limitations. They can’t create jobs overnight. That’s on private businesses. The government needs to become a friend, not a roadblock, for entrepreneurs.
They should ease regulations and let the private sector thrive’ said Mr Prabhu Kishore. Identifying key areas of development CII’s Dr Murali Krishna cited pharmaceuticals, defense, aerospace, IT, electronics & medical manufacturing.
Industry leaders have also spoken on reviving the MSME sector which they say needs imminent government support.
‘The MSME sector faces high production costs, labor shortages, and expensive raw materials. The government must address these issues swiftly to revive the MSME sector’ said APCCIF’s Mr Rao.
