Andhra Pradesh Chief Minister, N Chandrababu Naidu was recently in USA to give the country a sneak peek of his state. During the visit, he met with the President and COO of Franklin Templeton, Jennifer Johnson. As the head of a leading global investment management firm, she confessed that her organization was interested to expand into AP.
Jennifer is said to have revealed that a few representatives from her firm had participated in the FinTech Conference that was held in Vishakhapatnam recently. She added that it was after this conference that Franklin Templeton gained the confidence to establish one of their centers in the state.
Naidu has offered reassurance that the various resources like water, land and electricity that are required by the organization to commence their operations will be readily provided to them.
Franklin Templeton’s interest in Andhra Pradesh and particularly Vizag is likely to boost the FinTech development in the state. The emergence of FinTech in Vishakhapatnam and the government’s plans to enhance the scope of employment and economics in the state are an added assurance. The chances of engaging local talent while also improving global exposure are high, with the interest that Franklin Templeton has showed in setting up shop in the city. Hopes are high that the establishment of Franklin Templeton will be encouragement enough for other big game players to follow suit.