However, Naidu did not elaborate on his plans. But, he claimed he will focus on achieving this goal as Hyderabad has already became a favourable infotech destination and is on its way to becoming a knowledge hub.

Delivering his valedictory address at the South Asian Foreign Exchange Dealers Conference here on Friday, Naidu said there is a need for redefining the developmental agenda. Referring to the 1998 global competitiveness report, he said though India has a large pool of competent scientists and engineers, its ``performance'' is dismal on many other fronts.

According to him, other significant areas of weakness as highlighted by the report are scarcity of venture capital, pervasive red tape and a civil service subject to political pressures.

He felt that through a developmental plan drafted at a sub-national level -- the state level-- one can achieve the desired targets. He stressed the need for a major developmental activity at the state level. Naidu claimed Andhra Pradesh has already tried and implemented various dimensions concerning to competitiveness in the state.

He further said, ``We shall do away with the conventional method of five-year plans and shall be replaced by longer time horizon.

"Unless we define a shared vision for the future, it will not be possible to realise our true potential both individually and collectively," he added.