Government of Andhra Pradesh through the AP Economic Development Board has entered into an MOU with the leading Indian School of Business to work with various economic departments under Government of AP with a broader objective of economic recovery and growth monitoring especially post COVID 19 with special focus on economic development and job creation in Andhra Pradesh.

In addition, the areas of collaboration also include ‘High Frequency High Resolution Indicators for Monitoring Economic Recovery in Andhra Pradesh’, Project on ‘Visakhapatnam’ as an Engine of Growth, Focus on ‘Food Processing Sector’ in Rayalaseema, improving e-governance and data analytics, unshackling informal sector growth and reshaping the skilling programs. The data analytics is designed to move from hindsight to foresight and outsight i.e. from mere descriptive analytics to predictive and prescriptive policy analytics which is going to be a game changer in the days to come.

The MOU will nurture a think tank by setting up a Policy lab called “GoAP-ISB Policy Lab”, a public policy laboratory to drive evidence-based policy decisions. It aims to create a Knowledge Bank for strategic planning, policy analysis, data analytics and action-research essential for sustaining high rates of growth and successful completion within the committed timelines with focus on investment flows, their efficacy in terms of value addition, employment generation and wealth creation. The lab is modelled in the lines of Policy Lab in UK cabinet would enable greater synergistic functioning of departments and work towards the objective of economic monitoring, recovery, and development.

JVN Subramanyam, IAS, CEO Economic Development Board and Prof. Rajendra Srivastava, Dean ISB have exchanged an MoU in the presence of Sri Mekapati Goutham Reddy, Hon’ble Minister for Industries, Commerce, IT, and SDT in a virtual event.

Speaking to the media Hon’ble Minister has said that “We are working with ISB for the past few months on identifying various areas of collaboration. Today, we are on boarding ISB as our knowledge partner to work on various initiatives in skill development, e-governance, turning Vishakhapatnam into a growth engine, improving value addition in food processing etc.”

He further said, “Our ‘GoAP – ISB Policy Lab’ is an initiative modelled in the lines of Policy Lab in UK. We intend to generate data using randomized control trials (RCTs) and gather evidence to measure the impact of our policies and drive our policy decisions based on strong research evidence. This is truly cutting edge in the field of economics and public policy and the last year’s Nobel Prize winners were recognized for pioneering this experimental (RCT) approach to development economics.”

Sri Karikal Valaven, IAS, Special Chief Secretary, Industries and Commerce, Sri Bhanuprakash Yetaru, IAS, Secretary to Government, ITE&C, Sri Arja Srikanth, IRTS, MD & CEO, APSSDC, were also present in the virtual event. From ISB, Professor Ashwini Chhatre, Executive Director, Bharti Institute for Public Policy, DNV Kumara Guru Director External Relations long with host of other dignitaries participated.

Source: Press Release