IT Minster Lokesh urges Chartered Accountants to become partners in development of Andhra Pradesh

Andhra Pradesh IT Minister Nara Lokesh has said the State government is working towards building a knowledge-based economy, with the target of achieving a $2.4 trillion economy by 2047.

“Chartered Accountants (C.As) from Andhra Pradesh should not just be contributors but also guiding forces in this journey,” Mr. Lokesh said while speaking at the ‘Arthasamruddhi-2025’, a conference organised by the Institute of Chartered Accountants of India (ICAI) in Visakhapatnam on Friday.

Mr. Lokesh said the government was committed to ensuring regional development under the ‘One Capital – Decentralisation of development’ motto.

Describing them as ‘Brand Ambassadors of A.P.’, Mr. Lokesh urged the CAs to help design and come up with ethical and effective policies to take the State’s development forward.

Referring to ‘Manamitra’, a platform delivering 700 types of citizen services via WhatsApp, Mr. Lokesh said the government was taking steps to integrate AI into governance and had set up a working group to improve service delivery. He invited the CAs to contribute their insights and recommendations, as working group members.

The Minister further said that the ICAI was not just an institution for auditing balance sheets but also a platform for building a good society. “The CAs are not just auditors but also custodians of responsibility and accountability,” he observed, adding that they, as “nation builders” played a vital role in strengthening India’s financial ecosystem.

Describing ICAI Vice-President Prasanna Kumar as a proud son of Visakhapatnam, Mr. Lokesh lauded him for his leadership and for inspiring young professionals across Andhra Pradesh.

‘Embrace AI’

The country was not just expecting compliance reports from the CA’s, he said, and urged them to embrace AI-driven audits, adopt Blockchain for transparency, focus on Environmental, Social & Governance (ESG) reporting, guide startups, MSMEs and global investments.

Mr. Lokesh also said that due to the investor-friendly policies, global giants such as Google, TCS, and Cognizant were setting up operations in Visakhapatnam. He also said that Bhogapuram International Airport would be completed in a year and it would transform the economic landscape of Visakhapatnam, Vizianagaram, and Srikakulam districts.

MSME Minister Kondapalli Srinivas, Bheemunipatnam MLA Ganta Srinivasa Rao, ICAI Southern Region Vice-Chairman M Subbarao, ICAI Visakhapatnam Branch representatives, industry professionals, and CAs were present.