Andhra will become India's growth engine: Jayant Sinha

Hopes that the state will clock 14-15% GDP rate in coming years

Assuring all support to Andhra Pradesh, Minister of State for Finance Jayant Sinha today expressed hope that the state will clock 14-15% GDP rate in coming years to become India's growth engine.

Addressing the CII Partnership Summit, he invited investors to participate in the development of Andhra Pradesh saying amongst the states, it was only second to Gujarat in the ease of doing business ranking.

"I am sure that Andhra Pradesh will become the economic engine for India certainly with the GDP growth rate at 14 or 15%... We at the Centre are determined to help and support you in every possible way," Sinha said.

Lauding Andhra Pradesh Chief Minister Chandrababu Naidu, Sinha said that future lies in the state as the new capital city will show how to do smart urbanisation and promote entrepreneurship.

"We are a government for the poor, but because we are the Government for the poor, and we are dedicated to the poor, we are a government that believes in pro-market policies as well," he said.

Inviting investors to invest in defence, petroleum refining and electronics sector, Sinha said these industries are going to flourish and prosper in Andhra Pradesh.

Andhra Pradesh has lost out on Hyderabad and other revenue generating areas following bifurcation of the state in 2014. It is also engaged in the process of developing a new capital at Amaravati.