The AP Chambers president Potluri Bhaskar Rao and other industry representatives at a media conference in Vijayawada on Thursday.
| Photo Credit: KVS GIRI
The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) has hailed the State government over its new industrial policies announced a day ago.
Addressing a press conference here on Thursday (October 17, 2024), the AP Chambers president Potluri Bhaskara Rao said, “We express our gratitude to Chief Minister N. Chandrababu Naidu, Ministers and Secretaries for coming up with excellent policies.”
The State government has announced the development of industrial parks with People Public Private Partnerships (PPPP) with Speed of Doing Business. Parks will be established on lands owned by private parties and the infrastructure would be developed by the government. With the announcement of the new industrial policies, the economy of the State was poised to grow and prosper. The government had brought down the rate in the Mallavalli Industrial Park in Krishna district to the earlier rate of ₹16.5 lakh per acre along with the development of industrial infrastructure in the industrial park, he said.
The AP Chambers’ general secretary B. Raja Sekhar said that the new policies were excellent and many of their suggestions were considered in the formulation of the policies. The government had announced separate incentives for companies based on the scale of their investment and employment generation. By 2024-29, the government was targeting an investment to the tune of 10 billion USD with 2 million jobs (direct and indirect), of which 1.5 billion USD (approx.) will be reimbursed to the respective investors, he said.
The AP MSME Industries Association general secretary M.S. Ramachandra Rao stated the State government had extended the industrial policy to include MSMEs and Entrepreneurs. The government wanted to establish one industrial estate for every Assembly constituency and bring one entrepreneur from every home. Many initiatives such as ideation assistance, trade related assistance, technical know-how centres, global market linkages to 500 best MSMEs, seed capital incentive, local procurement policy, energy conservation, skill development for increasing the employment of the local workforce form part of the new policies. “We see a bright future for the State,” he added.
The AP Chambers’ Energy Committee vice-chairman B. Phani Chandra and others spoke.
Published – October 17, 2024 07:32 pm IST
