VIJAYAWADA: The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) lauded the State government’s recently announced industrial policies, highlighting Chief Minister N Chandrababu Naidu’s commitment to fostering economic growth.
AP Chambers President Potluri Bhaskara Rao, addressing the media on Thursday, stated that the Chief Minister had delivered on his promise to introduce one of the most robust industrial policies in India. The six new policies, Bhaskara Rao emphasised, are designed to attract investment and stimulate the State’s economy.
Among the key developments, the government plans to establish industrial parks through People Public Private Partnerships (PPPP), improving the speed of doing business. These parks will be built on privately owned lands, with infrastructure development funded by the government. He noted that these policies are poised to significantly boost the State’s economy.
Rao also expressed gratitude for the government’s decision to reduce land rates in the Mallavalli Micro, Small, and Medium Enterprises (MSME) park, Krishna district, back to Rs 16.5 lakh per acre, alongside new infrastructure development. This move, he said, would provide a strong boost to local industries.
AP Chambers General Secretary B Raja Sekhar praised the policies for considering their recommendations. He highlighted the State government’s plan to attract USD 10 billion in investments and generate 2 million jobs by 2024-29, with USD 1.5 billion set aside for reimbursements to investors.
AP MSME Industries Association General Secretary MS Ramachandra Rao appreciated the TDP-led NDA government’s focus on MSMEs, promising incentives such as ideation assistance, global market linkages, and skill development programmes. He also highlighted plans to establish industrial estates in each constituency to nurture local entrepreneurship.