Amaravati, Oct 20 : The government of Andhra Pradesh has set a target of developing Visakhapatnam as a trillion-dollar economic corridor, State Education, IT, and Electronics Minister Nara Lokesh said on Monday.

Stating Andhra Pradesh attracted over Rs.10 lakh crore investments in just 16 months, he stressed the state's ambition to become a $2.4 trillion dollar economy by 2047.

Lokesh was addressing the CII Partnership Summit Roadshow in Sydney as part of his visit to Australia to invite investors for Partnership Summit scheduled to be held in Visakhapatnam on November 14-15.

According to his office here, he advanced a multi-pronged agenda of academic, industrial, and skills partnerships during his second day in Australia, engaging with top universities, public training institutions, and industry leaders to fast-track Andhra Pradesh's growth as India's next innovation and investment hub.

Highlighting Visakhapatnam's rapid emergence as a data and industrial hub, Lokesh invited business leaders to the CII Partnership Summit, emphasizing the state's world-class infrastructure, 1,051 km of coastline, and welcoming policies for new investments.

'Once you sign an MoU with Andhra Pradesh, it's no longer just your project'it's ours as well. We provide hand-holding and expedited approvals at every stage,' Lokesh assured.

Lokesh stressed that Andhra Pradesh is committed to transparent, accountable, and accelerated growth. He noted that proactive project management'down to daily WhatsApp updates involving ministers'ensures seamless execution for investors.

Lokesh underlined why Andhra Pradesh is the preferred destination for global investors'highlighting the state's experienced, visionary leadership, business-friendly reforms, young talent, and strong execution track record. He referenced Chief Minister Chandrababu Naidu's historic role in developing Hyderabad.

Lokesh called on industry leaders to visit Andhra Pradesh, see the state's energy and opportunity firsthand, and join the state's journey to create 2 million jobs in five years. 'When Indian states actively compete for investments, India wins. This is the new India, rapidly reforming and rising to meet its $30 trillion ambition under Prime Minister Modi's leadership.'

Lokesh outlined Andhra Pradesh's robust, investor-friendly environment under Chief Minister N. Chandrababu Naidu. He shared that more than Rs 10 lakh crore in investments have been attracted in just 16 months, crediting the state's 'speed-of-doing-business' approach.

At the University of New South Wales (UNSW), Minister Lokesh met with senior executives and researchers, exploring joint degree programs, student exchanges, and skills development initiatives'particularly in the fields of STEM, Artificial Intelligence (AI), and Renewable Energy.

He called for collaborative research between Andhra Pradesh universities and UNSW to tackle challenges in sustainable agriculture and water management and sought UNSW's support to establish innovation hubs in Andhra Pradesh.

He also advocated for partnerships in public health, telemedicine, smart cities, and effective, data-driven public policy and governance.

UNSW leaders highlighted the institution's global stature'placed among the world's top 50 universities'and its track record in pioneering solar-powered vehicles, quantum computing, and medical breakthroughs.

UNSW expressed readiness to partner further with Andhra Pradesh in joint research, technology transfer, and student engagement, having already established links with leading Indian institutions and tech hubs.

/IANS