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NRIPage | Articles | Chandrababu Naidu Poaches Senior Investment Officer from Tamil Nadu Ahead of Davos Trip | Get Business News. Grow and Thrive in the Modern Market around the world - NRI Page
Chandrababu Naidu, the Chief Minister of Andhra Pradesh, is gearing up for his highly anticipated trip to Switzerland to participate in the prestigious World Economic Forum (WEF) Summit in Davos. This business-focused event is seen as an excellent opportunity to attract significant investments to the state. In a strategic move ahead of his trip, Naidu has successfully poached a key investment body executive from the neighboring state of Tamil Nadu.
The latest reports reveal that Sarin Paraparakath, a senior executive who held a prominent position in Tamil Nadu’s investment promotion agency, Guidance Tamil Nadu, has been recruited by the Andhra Pradesh government. Sarin Paraparakath previously served as the Senior Vice President at Guidance Tamil Nadu, where he played an integral role in attracting major investments to the state. His expertise in building robust investment mechanisms was crucial to Tamil Nadu’s success in promoting business growth and attracting big-ticket investments.
As part of his new role, Paraparakath will serve as the Senior Vice President of the newly constituted Economic Development Board of Andhra Pradesh. The establishment and revitalization of this board are considered critical steps in improving the state's economic outlook. Under Chandrababu Naidu's leadership, the board is being restructured to stimulate investment opportunities, something that was lacking under the previous administration of Jagan Mohan Reddy, which had left the board nearly non-operational.
By bringing in a seasoned professional like Sarin Paraparakath, Naidu aims to bolster Andhra Pradesh’s investment prospects, particularly in light of the opportunities available at the Davos summit. Paraparakath’s experience and established network in the investment world are expected to play a pivotal role in positioning the state as a key player in attracting global investments.
This move by Naidu can be seen as a masterstroke aimed at ensuring Andhra Pradesh secures surplus investments that could fuel the state’s economic growth and development. With a highly skilled investment officer at the helm of the newly restructured Economic Development Board, the state is poised to create a more favorable investment environment and compete with neighboring states like Tamil Nadu for attention from global business leaders and investors.
