GMR Group to develop 500-acre aviation, aerospace hub in Andhra Pradesh

GMR Group is developing a 500-acre aviation and aerospace ecosystem in Andhra Pradesh, its Chairman G M Rao said on Thursday. Addressing the CII Partnership Summit, Rao said GMR Group is developing an aviation city in Andhra Pradesh. "Besides the airport, we are developing an aviation and aerospace ecosystem in 500 acres in Andhra Pradesh," he said. Rao noted that in the olden days, economics grew around the port, then around the railway stations, then around the city centers. "Today, the economy grows around the airport. The airport is a new economic engine," he said, adding that Visakhapatnam will be the 'Bombay of the East'. He said navigating trade, technology, trust, and thought leadership are four words that describe Andhra Pradesh. Rao noted that the government led by Andhra Pradesh Chief Minister N Chandrababu Naidu acts with remarkable speed, something investors have witnessed firsthand.