In a move to accelerate industrial growth and economic development in the state of Andhra Pradesh the government has launched operational guidelines for 4 key industrial policies.
AP’s Industries minister Mr TG Bharath along with the state’s MSME Minister Mr Kondapalli Srinivas unveiled the 4 key industrial policies and operational guidelines which include the Industrial development policy 4.0, MSME and entrepreneur development policy 4.0, Food processing policy 4.0, Plug and play industrial infrastructure policy 4.0.
The newly launched policies are designed to provide a future-ready and investor-friendly ecosystem, with a focus on enabling ease of doing business, fostering innovation, supporting entrepreneurship, and promoting value addition and exports across sectors.
Similarly 2 Powerful digital platform tools were launched to ensure seamless implementation. These include APIIC plug and play portal and Early bird projects.
Speaking at the launch AP’s MSME Minister Mr Kondapalli Srinivas said ‘Today is a historic day for industry in Andhra Pradesh as these policies are intended to aggrandize industrial development in the state’.
Nurturing Entrepreneurship
Emphasizing on entrepreneurship the MSME minister said that the CM Mr N Chandrababu Naidu is very keen on fostering entrepreneurship in the state.
‘Our CM is very focused on MSMEs and Self-employment that is why you see so much focus being put on CM’s One family one entrepreneur program’ said the MSME minister.
MSME Incentives
Addressing the issue of pending incentives Mr Srinivas informed that the CM has given clear instructions to address the pending incentives due to the MSMEs at the earliest.
‘We have already cleared Rs 200 crores in the last 9 months. Similarly Rs 1400 crores have been sanctioned but are yet to be released while Rs 1500 crores are yet to be sanctioned which we are actively working upon’ said the MSME minister.
Concurred the industries minister and said that about Rs 3000-5000 crores of incentives will be cleared by May 15th.
‘We are working on an innovative escrow mechanism to clear these dues which I must state is the 1st time to be implemented anywhere in India’ noted Mr Bharath.
Industrial Parks
It was also informed that 175 new industrial parks are being planned across the state.
‘The intent is to have one park in every district. We have a clear roadmap to develop these parks. 46 parks have been identified for the cluster development program and the rest on P4 model’ said the MSME minister.
Similarly, Industries Minister Mr TG Bharath reiterated the vision of the CM for entrepreneurial development and economic growth in the state. ‘We are not just working on incentives but building an entire ecosystem’ said the Industries minister. He also highlighted the need for Speed of doing business which he said is important today.
He stated that ease of doing business is being further worked upon and that detailed discussions have taken place on this at the highest level.
Industries secretary Mr N Yuvaraj IAS along with Mr Vishwa IAS and other officials participated at the launch.
