AP signs MoU with IFMR to drive Swarna Andhra 2047; CM sets 15% growth target
AMARAVATI: AP Chief Minister N. Chandrababu Naidu on Saturday said Andhra Pradesh has set an ambitious target of achieving 15 percent annual growth as part of the 'Swarna Andhra 2047 Vision' and signed a partnership with the Institute for Financial Management and Research to provide policy and implementation support for the roadmap.
Speaking after the State Planning department inked a Memorandum of Understanding with IFMR, which operates under KREA University, the Chief Minister recalled that the state had registered a Compound Annual Growth Rate of 13.5 percent between 2014 and 2019. He said the current growth rate was around 11 percent due to various reasons, and the new collaboration was aimed at bridging the gap and accelerating development to meet the 2047 goals.
State Planning Department Principal Secretary Piyush Kumar and IFMR representative Kapil Viswanathan exchanged the agreement documents at the event. Under the MoU, IFMR will oversee the implementation of the ten guiding principles outlined in the Swarna Andhra 2047 Vision and support the establishment of dedicated Mission Cells to achieve Gross State Domestic Product targets and higher growth rates. The institute will work closely with the state government on flagship initiatives including the Zero Poverty Mission, Water Security Mission, and Deep Tech Mission.
The partnership also mandates IFMR to conduct field-level studies, provide evidence-based policy recommendations, and suggest innovative approaches aligned with the ten guiding principles. Cooperation will be extended to other priority areas in subsequent phases. To monitor progress, the government will constitute a State-Level Committee along with Mission Working Groups to facilitate implementation and ensure accountability across departments.
Emphasizing the role of technology in the growth strategy, Mr. Naidu said the government was integrating deep technologies across sectors to drive the next phase of development. He noted that Andhra Pradesh had already attracted investments and projects in emerging areas such as AI skilling, drone mapping, automobiles, metals, steel, rare earth minerals, semiconductors, and defence manufacturing. The state was also actively promoting Artificial Intelligence and Quantum Technologies on a large scale to build a future-ready economy, he added.
Finance Minister Payyavula Keshav, representatives from KREA University and IFMR, and senior officials from the Planning department attended the MoU signing. Officials said the collaboration with IFMR was expected to strengthen the analytical and execution capacity of the state as it pursues its vision of becoming a developed, poverty-free, and technologically advanced Andhra Pradesh by 2047.
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