Andhra Pradesh is aiming to transform its economy into a knowledge-based powerhouse, with a long-term target of reaching a 2.4 trillion-dollar economy by 2047. State Education, IT, and Electronics Minister Nara Lokesh emphasized that Chartered Accountants (CAs) should not only act as financial contributors but also serve as guiding forces in shaping policies and ensuring sustainable economic growth. Speaking at the Arthasamruddhi – 2025 conference organized by ICAI in Visakhapatnam, he highlighted the role of CAs in upholding transparency, accountability, and innovation.
Lokesh stressed that just as India benefitted from the IT revolution, Andhra Pradesh must seize opportunities created by the artificial intelligence (AI) revolution. The state is already deploying AI tools in legislative discussions, governance, and public service delivery, including initiatives like “Manamitra,” which provides over 700 citizen services through WhatsApp. He urged ICAI to take the lead in establishing an Accounting and Auditing Centre of Excellence in Visakhapatnam to position Andhra Pradesh as a hub for financial innovation.
The government’s “One Capital, Decentralized Development” approach focuses on sector-specific growth across districts—automotives in Anantapur, renewable energy in Kurnool, electronics in Chittoor, quantum technology in Krishna-Guntur, aqua culture in Godavari districts, and IT, pharma, and logistics in North Andhra. With major companies like Google, TCS, and Cognizant setting up in Visakhapatnam, and the upcoming Bhogapuram International Airport, Lokesh projected unprecedented regional development.
Calling Chartered Accountants the “brand ambassadors of Andhra Pradesh,” he urged them to adopt new-age practices such as AI-driven audits, blockchain-based transparency, ESG reporting, risk management, and global investment guidance. Highlighting the vision of Chief Minister Chandrababu Naidu, Lokesh said Visakhapatnam is not just the “City of Destiny” anymore, but is evolving into a global hub for finance, technology, and innovation. He assured that in the next four years, Visakhapatnam’s growth will redefine Andhra Pradesh’s economic landscape.
