The three-day Davos Global SME Summit concluded on Friday, highlighting India’s increasing impact on the global small and medium enterprise (SME) landscape. Andhra Pradesh stood out by presenting a bold roadmap aimed at transforming into a $2.4 trillion economy by 2047. Leading the state’s delegation, Andhra Pradesh MSME, SERP and NRI Relations Minister Kondapalli Srinivas delivered a compelling address to global investors, positioning Andhra Pradesh as one of the fastest-growing states in India, boasting a Gross State Domestic Product (GSDP) of $166 billion and an impressive growth rate of 11 percent.
Srinivas detailed the state’s initiatives to enhance SME growth, which include the establishment of new industrial parks and MSME clusters, facilitating easier access to finance and global markets for startups, and developing robust infrastructure. This infrastructure includes six operational ports (with four additional ports in development), six airports (three of which are international), 8,600 km of national highways, and a steady 24/7 power supply, along with plans to expand its industrial land bank to nearly 100,000 acres. The minister also showcased Andhra Pradesh’s leadership in Ease of Doing Business by announcing the launch of Single Window 2.0, designed to speed up approvals within the “Speed of Doing Business” framework.
He emphasized green growth initiatives, noting that Andhra Pradesh is the first Indian state to implement a decarbonisation subsidy. The state plans to establish 175 MSME parks and focus on cluster-based development in sectors such as electronics, pharmaceuticals, automotive, and renewable energy, in addition to launching the Ratan Tata Innovation Hub. Andhra Pradesh also aims to generate 2 million jobs in the next five years and achieve an annual GSDP growth rate of 15 percent. The delegation, which included APMSMEDC CEO Vishwa Manoharan and senior officials, garnered significant interest from investors, further solidifying Andhra Pradesh’s status as a hub for innovation, sustainability, and global partnerships.
Pakistani delegates expressed admiration for India’s vibrant involvement, particularly commending Andhra Pradesh’s vision for inclusive growth. Beyond Andhra Pradesh, Indian representatives underscored the nation’s expanding role in the global SME ecosystem. The summit provided exclusive VIP access to the Global SME Business Home Leaders Elite Group, a global network aimed at shaping the future of enterprise ecosystems. Organisers offered visa assistance and support to international delegates to ensure their participation. The summit, which began on September 3, united entrepreneurs, policymakers, and thought leaders from around the world to share insights on innovation, sustainability, and inclusive growth.
As the event concluded, India reinforced its image as a global SME powerhouse, with Andhra Pradesh taking the spotlight through its ambitious economic vision that invites worldwide participation.
