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Andhra Pradesh industrial policy 2020-23 focuses on sustainable industrialisation, balanced growth across regions

V Rishi Kumar Hyderabad | Updated on August 10, 2020 Published on August 10, 2020

Mekapati Goutham Reddy, Minister for Industries and IT   -  K_R_DEEPAK

Will focus on MSEs, women entrepreneurs

Andhra Pradesh government has announced a new “Industrial Development Policy 2020-23” focusing on sustainable development with accent on MSMEs and women entrepreneurs and wide-based development of the State.

Mekapati Goutham Reddy, Minister for Industries, unveiled the policy at an event hosted at APIIC office.

Focusing on Ease of Doing business, it promises to extend tailor-made incentives for mega projects and sector specific incentives. Apart from bringing down cost of doing business, it aims to facilitate plug and play units where ever possible, and MSME and women entrepreneurs get a focused handholding approach packed with incentives. These include reimbursement of stamp duty, ₹1 per unit rebate on power for five years and 15 per cent investment subsidy, among others.

The policy lays emphasis on balancing growth across regions and communities and is focused on reducing the cost of doing business and helping MSMEs achieve scale and improve competitiveness.

Laying focus on skill development, the policy mentions Andhra Pradesh having 70.9 per cent (as of 2018) of its total population in the working-age and this is the second-highest share in India.

The policy aims to drive industrialisation based on the natural competitive advantages of a long coastline and a large pool of talented resources. It seeks to focus on promoting high value add and cutting edge industries to be future proof.

Ten sectors for special thrust include toys and furniture, footwear and leather, machinery and precision equipment, aerospace and defence, pharma, textiles, automobile, electronics and petrochemicals.

The MSMEs and women entrepreneurs will have special focus with ready-built pre-cleared facilities and skill development centres.

Industrial Zoning

The policy envisages Industrial Zoning to ensure a planned industrial development and to provide a ‘risk-free’ investment-friendly environment.

The policy proposes to set up YSR AP ONE, a multi-faceted business enablement centre to assist investors throughout the investment lifecycle--investor facilitation, market research, marketing and branding, sales support, incentive management, and special category cell.

Mentioning that the Chief Minister YS Jagan Mohan Reddy is keen on equitable development, the Minister said “Government of Andhra Pradesh has prepared this policy after extensive stakeholder consultations with industry and academia, incorporated global best practices while ensuring that the aspirations of the youth are addressed in this policy."

He added, “We intend to provide the best-in-class infrastructure, zero hassle setup, skilled labour availability and end to end handholding support for units to provide an industry-friendly environment at par with international standards. The focus of the policy is on asset creation – providing ready-built pre-cleared facilities and skill development centres which can serve as a base for the growth of the state.

 

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Published on August 10, 2020
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