CII-Andhra Pradesh hails State government’s new industrial policies
The Hindu
CII-Andhra Pradesh praises State Cabinet's new policies to attract investors, boost economy, and create job opportunities.
The Confederation of Indian Industry (CII)-Andhra Pradesh has hailed the State Cabinet’s approval of six new policies, and said it is a step in the right direction to rope in investors.
CII-A.P. Chairman V Murali Krishna described the new policies as pro-active and felt that they could position Andhra Pradesh among the top three States in India for investment. These policies were estimated to attract ₹30,000 crore in the manufacturing sector and ₹83,000 crore through Foreign Direct Investment (FDI).
They would also facilitate the establishment of 175 industrial parks, generating substantial export potential and creating opportunities for 2.2 million MSME entrepreneurs.
Dr. Murali Krishna emphasised the importance of specific incentives within the new framework. The decision to offer 10% additional incentive for job creation and 6% for reducing carbon footprint would provide the much-needed booster dose for the State’s economic growth.
Concurring with these views, G. Sambasiva Rao, past chairman, CII Visakhapatnam, commended the initiative to allow private industrial parks, along with mega industrial parks in over 100 acres. He also hailed the commitment of the government to provide the necessary infrastructure like roads, water and electricity.
G.S. Sivakumar, past chairman, CII Andhra Pradesh, and Convenor, CII Andhra Pradesh Tech Adoption, Digital Transformation & Industry 4.0, highlighted the role of cooperative federalism in these new policies. He lauded the introduction of a single-window system for approvals through a dedicated regional Economic Development Board.
D. Tirupathi Raju, past chairman, CII A.P., expressed gratitude for policies aimed at revitalising the food processing sector. The One District One Product (ODOP) initiative was aimed at promoting balanced regional development, fostering socioeconomic growth, and attracting investments to enhance manufacturing and exports.
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