Andhra Pradesh will be the first state to be assessed by the World Economic Forum to measure competitiveness. Soon, Global Competitiveness Index (GCI) will streamline the exact specs of progress for AP’s inner growth into various areas.
Chief Minister Sri N Chandrababu Naidu shared his thoughts on why this move will be critical for the development of Andhra Pradesh in the days to come.
Read The CM’s Note
“I strongly believe that growth requires self-assessment and benchmarking ourselves against the best. And, this is exactly what the Government of Andhra Pradesh will be doing now.
I’m proud to inform you that World Economic Forum will help our government assess the state’s level of competitiveness. We have signed an MoU today in New Delhi.
The World Economic Forum’s bench marking methods such as use of the Global Competitiveness Index, will be used to identify state’s economy’s strengths and weaknesses. Data-driven, evidence-based policy-making will play an important role in the government’s strategy to spur economic growth.
The assessment will provide key data for the design of evidence-based policies and reforms, and allow comparison with other economies of similar size or at a similar stage of development.
This collaboration with the World Economic Forum will provide us with the methodology, tools and knowledge to design better policies apart from identifying and measuring bottlenecks to growth and prosperity. These are critical steps for Andhra Pradesh to become the best state in the country by 2029.
The assessment is based on the performance in 12 categories: institutions; infrastructure; macroeconomic stability; health and primary education; higher education and training; goods market efficiency; labour market efficiency; financial sector development; technological readiness; market size; business sophistication; and innovation.
The WEF will provide technical support and help train government staff on GCI methodology, data collection and interpretation of results, with the goal of building capacity for the Government of Andhra Pradesh and its partners to carry out competitiveness assessments independently and on a regular basis.
On the sidelines, I also had an interesting chat with Philipp Rösler, Head of the Centre for Regional Strategies and Member of the Managing Board, World Economic Forum, about how they will share their expertise with us and how this exercise will prove to be a great step towards making Andhra Pradesh a global destination.
I’m confident that this partnership will prove to be fruitful and give us a critical insight into the challenges and opportunities we have ahead of us and how to make the most of them. This, I believe, will not only act as a catalyst for growth of our Sunrise Andhra Pradesh but also set an example for other states.”