Merchants' body offers expertise to AP

IMC proposed that a re-insurance hub be set up in Hyderabad since it has a strong IT industry base there

An Indian Merchants’ Chamber (IMC) delegation, led by its president Pramodh Thakker, today called on Andhra Pradesh chief minister N Chandrababu Naidu and offered its expertise on raising resources by the state for economic development by securitisation of assets and issuance of bonds.

The delegation comprised Lodha Group managing director Abhishek Lodha, Fitch Group company India Ratings and Research’s managing director and chief executive officer Atul Joshi, Finance Industry Development Council’s director-general Mahesh Thakkar, Rewas Ports Limited’s director Rajyalaxmi Rao, and Saurabh Verma, principal officer and director, Aon Global Insurance Brokers.

Besides offering its expertise for setting up an Institute of Governance and for planning modern smart cities in the state, the IMC proposed that a re-insurance hub be set up in Hyderabad since it has a strong IT industry base .

Speaking on the occasion, Naidu said he was keen on developing several ports along the long coastline in the state. Recalling that Prime Minister Narendra Modi had developed a number of ports in Gujarat, the chief minister said he would also promote ports in the state that would be useful for transportation of goods to Uttar Pradesh and Bihar upon completion.

“The state government is also keen on developing temple towns like Simhachalam, Srisailam and Annavaram as tourism centres,” he added.