Comments
Attracting projects such as the Tata-Sikorsky aerospace components joint venture and the Mahindra & Mahindra group's tractor manufacturing project to Andhra Pradesh mark the success of the Government in rejigging industrial policy to draw the manufacturing sector, according to its the Minister for Major Industries, Dr J. Geeta Reddy.
The State has focussed on bringing in investments in the manufacturing sector after the previous successes in drawing world leaders in services sector. The focus of the latest industrial policy is on supporting investments into capital-intensive and high value sectors.
Telangana
Addressing media persons a day ahead of the Andhra Pradesh Chief Minister, Mr N. Kiran Kumar Reddy's visit to the 5,000-acre Sri City SEZ near Tada about 60 kilometres to the North of Chennai on NH 5, Dr Reddy, responding to questions on the impact of the agitations for creation of a separate Telangana State, said the State has attracted over Rs 15,772 crore investments from 15 mega industries – categorised as investments of more than Rs 250 crore in a project – which would generate over 38,000 jobs. Over 30 projects on a similar scale involving investments of over Rs 18,000 crore and generating 91,000 jobs are in the pipeline. In the current year the State has attracted investments of over Rs 21,000 crore as of August against Rs 30,000 crore in 1010-11, she said.
The agitations are ‘politically threatening but not threatening industry,” she assured.
There has been a ‘basic change in thinking' in the industrial policy with focus on assistance and financial support for human resources training to meet industry needs and providing low-cost power to support industry. These are some of the unique features of the policy in addition to the usual tax breaks.
The proof of the success has been the State's ability to attract high value investments. Projects such as the tractor manufacturing plant will catalyse the emergence of Andhra Pradesh as a automobile hub, she said.
Sri City launched over three years back now has over 60 industrial units including multinational players across a range of sectors who have taken up nearly 1,000 acres land.
Mr Ravindra Sanna Reddy, Managing Director, Sri City, said the social infrastructure such as a school, hospital, business centre and dormitory have been set up. Over the next three years, the project would reach critical mass with establishment of a residential and commercial projects.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.