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Andhra Pradesh to roll out five policies to give a fillip to industrial growth
Formulate the best possible policies for the Industrial, MSME, Food Processing, Electronics, IT and Cloud, and Textile sectors in the next one hundred days to attract investors, Chief Minister Chandrababu Naidu tells officials
Chief minister N. Chandrababu Naidu during a review meeting on industries on Wednesday.
With a view to attracting investors and giving a fillip to the State’s economy, Andhra Pradesh Chief Minister N. Chandrababu Naidu has asked officials to prepare new policies for five sectors — Industrial, MSME, Food Processing, Electronics, IT and Cloud, and Textile.
The policies should be prepared in the next 100 days, Mr. Naidu said during a review meeting on industries on July 31 (Wednesday).
“Best possible policies should be in place to attract investors. As the government plans to turn Andhra Pradesh into a green hydrogen and green energy hub, the policies should be in tune with the objectives,” Mr. Naidu said.
Four industrial clusters
“Similarly, the government plans to develop four industrial clusters. Proposals should be prepared to get clearances from the Union government. Kuppam, Moolapeta, Chilamattur, Donakonda, or Pamur are the places identified to establish the new clusters. Electronics, pharma, food processing, and hardware industries can be promoted at these clusters,” he said.
Mr. Naidu also reviewed the progress of the bulk drugs park coming up at Nakkapalli with an expenditure of ₹11,542 crore.
Recalling that 64 industrial parks had been established in an extent of 14,125 acres during 2014-2019, Mr. Naidu pointed out that only 31 parks were established during the previous government’s tenure. As a result, industrialists and investors had lost trust in the government, he observed.
“Initiate dialogue with the investors who had entered into agreements with the State government and left due to the YSRCP government’s policies. If required, I will also speak,” Mr. Naidu said.
“Speed up works on the projects that were already launched. Projects worth ₹1 lakh crore should be completed so that 1,36,260 people get employment,” he said.
‘Slash land rates’
Mr. Naidu also asked the officials to slash the rates of lands in the Mallavalli industrial estate in the combined Krishna district to encourage entrepreneurs and attract investments.
Memoranda of Understanding (MoUs) worth ₹16 lakh crore had been entered into during the TDP government’s tenure from 2014-19. But there was a flight of investors during the YSRCP government’s policies. The companies had cancelled their agreements as the previous dispensation created hurdles and resorted to political harassment, Mr. Naidu said.
The officials informed Mr. Naidu that lands that had been pooled for industrial purposes were used for other purposes. As much as 1,382 acres were used for house site pattas, they said. Though suitable lands could be pooled for housing, industrial lands were used for housing purposes, they said.
Incentives
During the TDP term, 66% incentives were given, and it was brought down to 34% during the YSRCP rule, they said.
Reacting to it, Mr. Naidu said the government would consider extending incentives to the industries.
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Andhra Pradesh
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industrial production
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economy (general)