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Andhra's new industrial policy to boost economic growth

After passing a bill to provide 75  per cent of jobs in industries to local youth, AP government has embarked on preparing a new industrial policy to promote rapid economic growth.

Published: 15th September 2019 11:52 AM  |   Last Updated: 15th September 2019 11:52 AM   |  A+A-

Industries Minister Mekapati Goutham Reddy

Industries Minister Mekapati Goutham Reddy (YouTube screengrab)

By Express News Service

VIJAYAWADA: After passing a bill to provide 75  per cent of jobs in industries to local youth, the State government has embarked on preparing a new industrial policy to promote rapid economic growth.

According to the Industries Department officials, the government is planning to ensure transparency through the new policy, besides decentralisation of industries to promote balanced growth in the State without any regional imbalances. A level playing field will be ensured for all industrialists. 

“The State government is of the view that attracting industries by offering incentives may not be a long term option. It is better to simplify the procedures for those coming forward to set up industries in the State and to provide them better infrastructure to promote growth,” an official told TNIE.

Stating that the exercise of evolving the new industrial policy has been commenced, the official informed that they are framing the policy as per the priorities of the government. The intention of the government is that the development of industries is vital for the generation of employment and revenue.

Hence, there should be no scope for any irregularities in the policy framework. Industries Minister Mekapati Goutham Reddy has already held a meeting in this regard and necessary directions have been given to the officials in preparation of new industrial policy with emphasis on accountability, the official said. 

“The government is of the view that mega industrial parks with world-class infrastructure should be set up in all districts, instead of limiting them to a particular region. We will come up with a comprehensive industrial policy by covering all aspects to promote rapid economic growth,” he added.

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