Amaravati set to grow as major business centre

Hyderabad: A new city will emerge on a day which is considered to be the most auspicious in Indian mythology — when the good won over the bad. Amaravati — the newest city in the making — will also soon give a tough time to the established business centres in India as it seeks to become a major business centre.

Amaravati is expected to be a capital for nine different sectors of which administration is just one. It is hoping to become a major player in the entertainment, tourism, education, health and other sectors.

According to Palwai Raghavendra Reddy, a Hyderabad-based brand consultant, CM N. Chandrababu Naidu has given utmost priority to the growth of industrial clusters in Amaravati which will emerge as one of the prime drivers of the economy. “It’s central location in the state and the proximity to Vijayawada and Guntur regions will put the city on the fast track of development.”

Concurring with this view, Ftapcci president Anil Reddy claims Amaravati will attract huge investments. “As the new capital comes into being many new entrepreneurs will invest in it as it is will be raw and there will be many things to be explored. As the infrastructure plans are in the right direction, investors will feel comfortable eventually,” he said.

Talking about the major investment sectors in the capital, Mr Reddy said, “Infrastructure will definitely be the priority as they are planning development in phased manner. Apart from this, the state should encourage employment in small scale sector with the right amount of finances.”

Mr Naidu plans to develop Amaravati as the ‘benchmark’ capital city with global standards. So the real estate plays a major role after the infrastructure. Already several residential projects are underway to provide options for people who want to make the oldest Andhra city their home.

According to Mr C. Shekhar Reddy, former president, Credai, the future of Amaravati seems to be bright with the AP government and the Centre actively involved in the construction of the new city.

“Besides, the coming up of administrative buildings will drive growth for realty. As entrepreneurship is widely practised in AP, it will lead to creation of jobs in turn creating demand for housing,” he said.

Amaravati will become another healthcare hub for Telugus, apart from Hyderabad and Chennai. “Currently, AP does not have a world class high-end tertiary healthcare facility anywhere. This leaves the capital city with a great potential to have world class healthcare facility,” said Dr Bhaskar Rao, the MD of KIMS Hospitals.

According to Dr G. Anil Krishna, managing director of Maxcure Group of Hospitals, there will be a space and the need for at least 5,000 hospital beds for Amaravati, to start with. “A smart city needs smart hospitals. It will create a huge market for electronic health records and hospital management software.”