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October 5, 2017

Andhra Pradesh Inks Mou With Mastercard for Safe Digital Transactions

Andhra Pradesh Inks Mou With Mastercard For Safe Digital Transactions

The Government of Andhra Pradesh under the leadership of the Hon’ble Chief of Andhra Pradesh, Sri N Chandrababu Naidu participated in the 2017 India Economic Summit today.

Over 600 international and regional leaders participated in the Economic Summit hosted under the aegis of World Economic Forum in partnership with the Confederation of Indian Industry (CII) from October 4-6. The Chief Minister’s meetings at the Summit were coordinated by the Andhra Pradesh Board for Economic Development Board (APEDB), a single point of contact for investments, trade, and partnerships in the state of Andhra Pradesh.

At the Summit today the Hon’ble Chief Minister of Andhra Pradesh,N Chandrababu Naidureiterated Andhra Pradesh’s advantage and ability as a state to fully utilizing technologies while synergizing with international as well as regional leaders to contributeto double digit economic growth while propelling broad-based and socially inclusive development goals.

The Hon’ble Chief Minister of Andhra Pradesh, N Chandrababu Naidu and Mr. Ajay Banga, President and CEO of MasterCard signed a landmark strategic“Fintech Valley MoU” that enables MasterCard to offer technical insights and support implementation of the Andhra Pradesh CM’s high impact agenda to make the state of Andhra Pradesh a cashless society and elevate its foothold as a smart city. Commenting on this developmentthe Chief Minister said, “This association with MasterCard draws us closer to our goal of making Andhra Pradesh a hub for IT and Internet of Things (IoT) in the coming years.We are happy to be associated with a payment technology leader like MasterCard that will empower theecosystem with digital technologies.”

Hon’ble Chief Minister of Andhra Pradesh, N Chandrababu Naidu also attended the launch of "Mission Creative Million" a movement designed to impact one million creative producers over the course of 10 years through strategic interventions in the creative manufacturing sector organised by not for profit organization Industree Foundation.

In addition, Andhra Pradesh Economic Development Board (APEDB), under the leadership of its CEO Mr. J Krishna Kishore, facilitated the Chief Minister’s interactions withbusiness leaders and investors in the state’s key focus sectors like Financing, IT, Infrastructure, Manufacturing, Education and Agriculture.

Bilateral meetings of the Hon’ble Chief Minister of Andhra Pradesh, N Chandrababu Naidu included meaningfulinteractions with Mr. KulinLalbhai Executive Director, Arvind Mills; Mr. Amit Narayana, Founder AutoGrid; Mr. Ajey Mehta, MD India - HMD Global; Mr. KanwarBir Singh Anand, Managing Director & Chief Executive Officer, Asian Paints; Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum; Ms. ShobanaKamineni, President, CII and Mr. Chandrajit Banerjee, Director General, CII; Ms. KanikaChoudhary is the Honorary Ambassador of Philadelphia to India and Mr. Adi Godrej, Chairman, Godrej Group.

Some highlights of these meetings included Mr. Adi Godrej impressing upon Godrej Agrovet’sintent to continue to expand in palm oil; investing and developing in the state of Andhra Pradesh.Ms. KanikaChoudhary,Honorary Ambassador of Philadelphia to India, spoke about bringing knowledge cluster in Amravati with best practices from universities in Pennsylvania, United States.

On a closing note Mr. Krishna Kishore, Chief Executive Officer, APEDB said “The India Economic Summit presents an opportunity for Andhra Pradesh to showcase its growth engines and development models while understanding the best practises around the world.” “The government would internalize these best practises and customize them for Andhra Pradesh,” he added.

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