Andhra Pradesh: Industrial Policy to come into effect from August 1

The State government, as part of its policy, is planning to set up industrial parks in 45,000 acres at various places in the State.

Published: 30th July 2020 07:41 AM  |   Last Updated: 30th July 2020 07:41 AM   |  A+A-

Project estimated to cost of Rs 99.6 crore, including a Central grant of Rs 33.44 crore will enhance the industrial competitiveness of aluminium industry.

Representational image

Express News Service

VIJAYAWADA: The State government is all set to roll out the new industrial policy 2020-23 in a day or two.  Chief Minister YS Jagan Mohan Reddy gave his approval for the policy on Wednesday.

The State government, as part of its policy, is planning to set up industrial parks in 45,000 acres at various places in the State. Each of these parks will come up in an area not less than 1,500 to 2,000 acres of land.

Confirming it to TNIE, Industries and Commerce Minister Mekapati Goutham Reddy informed that the industrial policy has been cleared and a GO will be issued declaring the policy along with the operational guidelines at the earliest. Most likely, the policy will come into force from August 1.

“This is going to be a very dynamic industrial policy. We are cent per cent committed to provide infrastructure facilities such as water, energy, roads and others. This apart, we will also extend the needed  human resources to the industries,” he asserted.

The Chief Minister made it clear that all the commitments to  be made in the policy should be realised at any cost. The policy was drafted accordingly. “Instead of making tall promises, we will implement what we can,” Mekapati maintained.

While proposing basic incentives, the policy would also offer special incentives based on industry and its location. For instance, an industry coming up in the park in upland areas and far away from ports and airports would get more incentives than those having better connectivity and other advantages.
Similarly, the policy also focuses on developing all industries related to a particular sector in one industrial park. For instance, all the drug industries would come up in a specified industrial park.

The government will also construct storage tanks to ensure continuous water supply to the industries.
Meanwhile, official sources said that apart from focusing on attracting new industries, the policy will  also extend the required support to the existing industries. As the lockdown had an adverse impact on the industry sector, the government has already extended support by way of releasing the pending incentives and waiving the fixed electricity charges. The Chief Minister has given clear instructions that the policy should also take care of the existing industries, the sources added.

Though the government initially planned to roll out the industrial policy 2020-25 for a period of five years from April 1 as the previous industrial policy 2015-20 had lapsed on March 31, it was delayed because of the COVID-19 pandemic.

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