Swiss Minister Finds Naidu'S Gdp Claims Too Tall

The Swiss Minister of Economy, Pascal Couchepin, does not share N Chandrababu Naidu's optimism that Andhra Pradesh's gross domestic product (GDP) can register a seven-fold growth in the next 20 years.

Stating that this GDP growth projection was "a point" that struck him while he was going through the state's `Vision 2020', Pascal said, in his country, he could not make such a promise even during the election times.

Interrupting, the Andhra Pradesh Chief Minister Chandrababu Naidu pointed to

Dr K Anji Reddy, chairman of

pharmaceutical giant Dr Reddy's Lab, seated next to him, and said

if Reddy could increase his sales from a mere Rs 1 crore to Rs 1,000 crore in a 15-year period, "why can't Andhra Pradesh do so".

 

Brushing aside the comparison, Pascal said such a growth projection might be good for a corporate and its shareholders. "But if I make such a promise, I will land up either in jail or in hospital," he remarked. The interlude came at a luncheon meeting organised by the local branch of the Confederation of Indian Industry to welcome the Swiss minister and the delegation he was heading.

Naidu made a presentation at a meeting organised to highlight the potential of Andhra Pradesh and the investment opportunities offered to investors from Switzerland.

He suggested that a small monitoring committee composed of representatives from Switzerland and Andhra Pradesh be set up to speed up investments.

Pascal, who was the last speaker, said he was impressed by the goals set by the state for development. Naidu's `Vision 2020' was quite "clear and simple" as any vision should be.

He had occasion to discuss, earlier in the day, certain aspects

of development with the state's governor and noted economist

C Rangarajan who agreed with him that developments had

the tendency of increasing disparities between regions and also between people.

Rangarajan felt, in this situation the focus of development for an agrarian economy, as in Andhra Pradesh, should be agriculture sector and the farmers.

Earlier, making a presentation, Naidu explained how his `Vision 2020' document had been hailed all over and his emphasis on information technology and his development strategy had become a role model for the rest of the country. Every state wanted to follow Andhra Pradesh and even the Planning Commission and Government of India were drawing up `Vision 2020' documents, he claimed.

He sought investments from Switzerland saying that Andhra Pradesh was the most "happening state" in the country.

In a brief address earlier, Reddy referred to the potential the pharmaceutical industry

in Andhra Pradesh offered to joint ventures and foreign investors. He said he was emphasising this since apart from IT, drugs and chemicals, too, had major role to play in the state's economy.

Confederation of Indian Industry's deputy chairman for southern region, Epur Anil Kumar welcomed the delegates.

"The seven-fold growth projection made for Andhra Pradesh by Naidh may be good for a corporate. But if I make such a promise, I will land up either in jail or in hospital" Swiss minister Pascal Couchepin