VIJAYAWADA: A delegation of Andhra Pradesh Chambers of commerce and Industry Federation (Andhra Chamber) led by KVS Prakash Rao and P Bhaskar Rao met M Goutham Reddy, Minister for Industries, Commerce, Information and Technology on Thursday. The members of the AP Chamber requested the minister to release the pending industrial incentives and subsidies which had accumulated to the tune of Rs 2,500 crore. The members also said that trade and industry across the State were affected due to the global economic slowdown.
Under the influence of the economic slowdown, MSME, textiles, food processing, and other small and medium scale enterprises were being affected and if the situation continued, the majority of these would be forced to shut down and turn into non-profitable assets. The members also requested the minister to create an industry-friendly environment and release the pending incentives.