Finance
The Prime Minister Shri Narendra Modi laid foundation stone, inaugurated development works worth over Rs. 2 Lakh Crore in Visakhapatnam, Andhra Pradesh today. Paying his due respects to Lord Simhachalam Varaha Lakshmi Narasimha Swamy, Shri Modi said it was after a gap of 60 years, with the blessings of the people, a Union Government was elected for the third time in a row in the country. He added that officially, it was his first program in Andhra Pradesh after the formation of the Government. Shri Modi thanked the people for a grand welcome given to him during the roadshow prior to the event. He added that he respected the spirit of every word and feeling of Shri Chandrababu Naidu during his speech. The Prime Minister expressed confidence in achieving all the goals mentioned by Shri Naidu in his speech with the support of the people of Andhra Pradesh and India.
“Our Andhra Pradesh is a state of possibilities and opportunities”, exclaimed Shri Modi. He remarked that when these possibilities are realized, Andhra Pradesh will develop, and India will become a developed nation. The Prime Minister emphasized that the development of Andhra Pradesh is our vision and serving the people of Andhra Pradesh is our commitment. Shri Modi highlighted that Andhra Pradesh had set a target to become a $2.5 trillion economy by 2047. He remarked that to realize this vision, the government of Shri Chandrababu Naidu had initiated the ‘Swarna Andhra@2047’ initiative. The Prime Minister emphasized that the Union government was working shoulder to shoulder with Andhra Pradesh to achieve every goal and added that the central government was giving special priority to Andhra Pradesh in projects worth lakhs of crores. The Prime Minister remarked that today, projects worth more than ₹2 lakh crore were inaugurated and congratulated the people of Andhra Pradesh and the entire nation for these development projects.
Highlighting that Andhra Pradesh, due to its innovative nature, is a significant hub for IT and technology, the Prime Minister remarked “It is now time for Andhra Pradesh to become a center for futuristic technologies”. He emphasized the importance of leading in emerging technologies, such as green hydrogen. Shri Modi noted that the National Green Hydrogen Mission was launched in 2023, with a target of producing 5 million metric tonnes of green hydrogen by 2030. He added that in the initial phase, two green hydrogen hubs would be established, one of which will be in Visakhapatnam. The Prime Minister stated that Visakhapatnam will be among the few cities globally with large-scale green hydrogen production facilities. He highlighted that this green hydrogen hub will create numerous job opportunities and develop a manufacturing ecosystem in Andhra Pradesh.
Shri Modi remarked that he had the opportunity to lay the foundation stone for the bulk drug park project in Nakkapalli and highlighted that Andhra Pradesh was one of the three states in the country where such a park is being established. The Prime Minister emphasized that this park will provide excellent infrastructure for manufacturing and research, boosting investor enthusiasm and confidence while benefiting local pharma companies.
The Prime Minister noted that the government views urbanization as an opportunity and aims to make Andhra Pradesh an example of new-age urbanization. He added that to realize this vision, the foundation stone for the Krishnapatnam Industrial Area, also known as Kris City, was laid today. He remarked that this smart city will be part of the Chennai-Bengaluru Industrial Corridor, attracting thousands of crores in investment and creating millions of industrial jobs in Andhra Pradesh.
Remarking that Andhra Pradesh was already benefiting from Shri City as a manufacturing hub, Shri Modi underscored that the aim is for Andhra Pradesh to be among the top states in the country in the industrial and manufacturing sectors. The Prime Minister emphasized that the government was promoting manufacturing through initiatives such as Production Linked Incentive (PLI) scheme, resulting in India being counted among the top countries in the world for manufacturing various products.
The Prime Minister noted that the foundation stone for the South Coast Railway Zone headquarters was laid in the new city of Visakhapatnam. He highlighted the importance of this development for Andhra Pradesh, fulfilling a long-standing demand for a separate railway zone. The Prime Minister stated that the establishment of the South Coast Railway Zone headquarters will expand agricultural and trade activities in the region, and provide new opportunities for tourism and the local economy. He also mentioned the inauguration and foundation laying of connectivity projects worth thousands of crores. Shri Modi said that Andhra Pradesh was among the states with 100% railway electrification, and more than 70 railway stations are being developed under the Amrit Bharat Station Scheme. He highlighted that seven Vande Bharat trains and the Amrit Bharat train were being operated for the ease of travel for the people of Andhra Pradesh.
“The infrastructure revolution in Andhra Pradesh, with better connectivity and facilities, will transform the state’s landscape”, said Shri Modi. He remarked that this development will enhance ease of living and ease of doing business, forming the foundation for Andhra Pradesh’s $2.5 trillion economy.
Noting that Visakhapatnam and Andhra Pradesh’s coast have been gateways for India’s trade for centuries and continue to hold significant importance, the Prime Minister emphasized the promotion of the blue economy in mission mode to fully utilize maritime opportunities. He stressed the modernization of Visakhapatnam Fishing Harbour to increase the income and business of those involved in fisheries. He mentioned the provision of facilities like Kisan Credit Cards to fishermen and the steps being taken to ensure maritime security.
Shri Modi stressed the government’s commitment to inclusive and all-around development in every sector, ensuring that the benefits of development reach all sections of society. He reiterated the Union government’s dedication to building a prosperous and modern Andhra Pradesh. Concluding the speech, the Prime Minister congratulated everyone on the projects being inaugurated today, ensuring the prosperity of the people of Andhra Pradesh.
The Governor of Andhra Pradesh, Shri S. Abdul Nazeer, Union Minister for Civil Aviation, Shri Kinjarapu Rammohan Naidu, Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu, Deputy Chief Minister, Shri Pawan Kalyan were present among other dignitaries at the event.
Source: PIB
