Speed of doing business is new mantra, says Andhra IT Minister Nara Lokesh

Press Release, Aug 20, 2024, 3:14 PM IST

Amaravati: Andhra Pradesh IT and Electronics Minister Nara Lokesh said the state government believes that the era of Ease of Doing Business (EODB) is over and Speed of Doing Business (SODB) is the new mantra.

Under the Speed of Doing Business model, the IT minister said that the southern state aims to move at the fastest pace to create industrial zones for Foxconn and other large global manufacturing firms.

“Our government believes that the era of Ease of Doing Business (EODB) is over. Speed of Doing Business (SODB) is the new mantra and we will aim to move the fastest to create industrial zones for Foxconn and other large global manufacturing firms,” he said in a post on ‘X’, following a meeting with a Foxconn delegation on Monday.

Lokesh met the delegation led by V Lee and expressed happiness over the Taiwan tech giant’s plans for India, which include the development of more manufacturing facilities across electric vehicles and digital health and electronic components.

Apprising Foxconn of Chief Minister N Chandrababu Naidu’s vision to develop large manufacturing facilities, Lokesh said the state is open for design and Global Capability Centres (GCC) as well.

Further, he promised Foxconn that Andhra Pradesh would provide all the facilities to develop a ‘manufacturing city’ to create more jobs.

Naidu also stressed the Speed of Doing Business mantra with business executives at Sri City on Monday.