Andhra Pradesh Unveils 'Speed of Doing Business' to Attract Global Tech Giants

Andhra Pradesh's Minister of IT and Electronics, Nara Lokesh, announced a new initiative focused on the 'Speed of Doing Business' (SODB) instead of the traditional 'Ease of Doing Business'. The state aims to quickly establish industrial zones for major global manufacturers like Foxconn, fostering the development of manufacturing facilities in areas like electric vehicles, digital health, and electronic components.

Andhra Pradesh IT and Electronics Minister Nara Lokesh announced that the state government is shifting from the era of East of Doing Business (EODB) to a new focus on Speed of Doing Business (SODB).

Under the SODB model, the southern state aims to expedite the creation of industrial zones for major global manufacturers, including Foxconn.

During a meeting with a Foxconn delegation, Lokesh expressed excitement over the tech giant's expansion plans in India, encompassing developments in electric vehicles, digital health, and electronic components. He assured that Andhra Pradesh would provide all necessary facilities to develop a 'manufacturing city', aiming to create more job opportunities in the region.

(With inputs from agencies.)