Bharath explains new industrial policy to Sri City corporate honchos
Minister of industries TG Bharat interacting with the CXOs of Sri City on Tuesday
Sri City: Minister for industries, commerce and food processing T G Bharath presented CXOs and senior executives of industries operating in Sri City with the newly-launched Industrial Policy 4.0 of the state. The policy, crafted under the leadership of Chief Minister N Chandrababu Naidu, aims to position Andhra Pradesh among the top global investment destinations, targeting to attract Rs 30 lakh crore investments and over 10 billion dollar foreign investment during the next five years. Key areas of focus include MSMEs, electronics, food processing, clean energy, and industrial parks.
At the start of the interactive session with industry officials, Bharath outlined the policy’s basic principles, emphasising its role in catalysing economic transformation through speed, efficiency, and sustainability.
He explained the government’s vision of building a globally competitive Andhra Pradesh that champions innovation and international collaboration while fostering sustainable industrial development.
The minister actively sought industry feedback, recognising the crucial role of business insights in policy refinement.
Following the minister’s remarks, industries and commerce department secretary Dr N Yuvaraj provided an in-depth overview of the policies, focusing on initiatives like the ‘Speed of Doing Business’ for streamlined processes, investor-friendly approach, advanced infrastructure plans with industrial parks, and sector-specific incentives.
He said Andhra Pradesh is pioneering a new industrial policy with a multi-tier investment framework for Private Industrial Parks (PIPs). This policy categories parks by size (nano to mega) and offers incentives for various investment tiers (sub-large, large, mega). The state aims to attract significant investments in electronics manufacturing, creating jobs and boosting economic growth
Prioritising MSMEs, green energy, electronics, and food processing, the policy offers subsidies up to 40 per cent a unique 6 per cent de-carbon subsidy, and streamlined processes to ease business operations.
Export targets are set to double to 40 billion dollars, with a focus on sectors like automotive, pharma, electronics, drones, IT and aerospace. The ‘One Family-One Entrepreneur by 2030’ initiative, 175 planned industrial parks, and dedicated funds for MSMEs and electronics aim to drive job creation and sustainable growth across the state.
He highlighted that early investments in mega and large industries will receive special incentives, and detailed the offerings for MSMEs and common categories. Dr Yuvaraj reiterated the government’s dedication to making Andhra Pradesh the preferred choice for global investors with appropriate interventions to reduce cost of production and to increase speed of doing business.
Dr Ravindra Sannareddy, founder managing director of Sri City said the initiative of introducing Industrial Policy to Sri City stakeholders highlights the government’s proactive approach in positioning the state as a prime destination for global investment.
The attending business leaders responded positively to the government’s initiatives, particularly praising the ‘Speed of Doing Business’ framework for its potential to eliminate bureaucratic delays and provide real-time support.
Minister Bharath and the industries secretary toured the industrial area, observing the bustling activity firsthand. They visited Daikin India’s production facility and received a briefing on the ongoing operations.