Andhra Pradesh Unveils New Mantra: Speed of Doing Business

Andhra Pradesh IT and Electronics Minister Nara Lokesh announced a shift from Ease of Doing Business to Speed of Doing Business as the state's new focus. The state aims to rapidly develop industrial zones for major global manufacturers like Foxconn. Chief Minister Naidu supports this initiative, promising extensive facilities to promote investment and job creation.

Andhra Pradesh IT and Electronics Minister Nara Lokesh has declared that the state is moving away from the Era of Ease of Doing Business (EODB) and embracing a new focus: Speed of Doing Business (SODB). This shift aims to accelerate the establishment of industrial zones for major global manufacturers such as Foxconn.

Lokesh shared this vision on 'X', after meeting with a Foxconn delegation, including V Lee. The Taiwanese tech giant has ambitious plans for India, encompassing manufacturing facilities in sectors like electric vehicles, digital health, and electronic components. Lokesh emphasized that Andhra Pradesh is not only welcoming traditional manufacturing but also design and Global Capability Centres (GCC).

Chief Minister N Chandrababu Naidu echoed this initiative, assuring Foxconn that the state would provide all necessary facilities to develop a 'manufacturing city,' which would generate more jobs and attract significant investment. The commitment to SODB was reinforced during discussions with business executives at Sri City.

(With inputs from agencies.)