VIJAYAWADA: The State government rolled out the much-awaited ‘Industrial Development Policy 2020-23’ on Monday.
Unveiling the policy at Andhra Pradesh Industrial Infrastructure Corporation (APIIC) headquarters in Mangalagiri near here, Industries and Commerce Minister Mekapati Goutham Reddy exuded confidence that the new policy will ensure integrated development of all the regions of the State.
Besides laying emphasis on attracting new investments, the policy focuses on supporting the existing units.
“The government believes that addressing issues of the existing units is critical for the growth of the State and prospective investors,” he said.
“It is not at all an inventive-driven policy, but it facilitates incentives to the industries which are providing more jobs,” the minister explained.
10 key sectors
The three-year policy focuses on 10 thrust areas — food processing, toys and furniture, petrochemicals, aerospace, defence, pharmaceuticals, biotechnology, textiles, electronics, automobiles and components, footwear and leather, machinery and precision equipment.
For these focus sectors, the government will undertake extensive investor outreach. “The government intends to provide the best infrastructure, skilled labour and end to end hand-holding support for units to create an industry-friendly environment on par with international standards,” he said.
Besides highlighting infrastructure, natural resources and availability of skilled labour, the policy also focuses on reducing cost and time by laying emphasis on making available ready-built facilities at low cost. Focus will be on de-risking businesses through end to end hand-holding. It emphasises on supporting units across the entire value chain and increased participation of SC/ST/ BC and minority communities, especially women.
Meanwhile, industry bodies hailed it as a practical policy. “It is one of the best policies announced by any State government,” said AP Chambers (Vizag zone) chairman Mulagada Sudheer. Plug and play facilities for MSMEs will ensure that an entrepreneur starts production within six months. Incentive structure is transparent and very clear as the policy thrust is linked to employment. Industry zoning is very crucial and it will be a big step as there will be no residential areas in the exclusive zones, he explained. There is a provision of buying land after 10 years with an option for entrepreneurs to become owners of land. Overall it is a good policy, he said.