Chandrababu's Andhra Pradesh Investment & Job Creation Plans (BN) for Industrial Growth

Chief Minister Chandrababu stated that six policies have been formulated to make Andhra Pradesh a center for international investment.

The government's aim is to attract Rs. 30 lakh crore in investments across all sectors and provide employment to 20 lakh people through these initiatives.

As part of this, the plan is to set up 22 lakh units in the manufacturing and service sectors. The results have already started to show, with the foundation stone for the NTPC (Green Energy, Green Hydrogen) project set to be laid under the auspices of Prime Minister Modi at Pudimadaka in Visakhapatnam on the 29th of this month.

AP Genco holds a 50 percent share in this project, which will involve investments of Rs. 84,700 crore in three phases. Green hydrogen manufacturing zones will be established, and 20 gigawatts of green energy, required for wind and solar hybrid pumped storage, will be produced in the state. This project is expected to create 25,000 direct and indirect jobs

On Thursday, Chief Minister Chandrababu explained details of the AP Industrial Policy, as well as policies for MSMEs, Entrepreneurs, Food Processing, Electronics, Private Parks, and Integrated Clean Energy, along with the incentives provided to entrepreneurs.

Reliance has recently entered into an agreement to invest Rs. 65,000 crore through the establishment of CBG plants.

Over the past three years, 2.5 lakh jobs have been created. LG has committed to investing Rs. 4,500 crore, and Tata Group has agreed to provide employment to 10,000 IT professionals in Visakhapatnam, with 2,500 jobs to be provided immediately.

Just as the government helped bring the IT revolution to the state, it is now committed to fostering the next wave of aspiring entrepreneurs.

The government will focus on promoting first-generation entrepreneurs, and will offer 10% more incentives to SC, ST, BC, and disabled individuals compared to other categories.

During the period between 2014 and 2019, large-scale investments were attracted, with 227 MOUs signed. However, these investments were lost due to the negligence of the previous government, which led to rising electricity charges that harmed industrial viability.

Establishment of New Mango, Banana, and Cashew Boards:

The government is declaring three tribal districts as organic zones under its food processing initiatives. New mango, banana, and cashew boards will be established, and the Centre is providing 20% funding under the Viability Gap Fund, which will also be leveraged by the state. The aim is to attract Rs. 30,000 crore in investments through this policy, with a target of setting up three lakh units.

Entrepreneurship in Every Family:

The government is moving forward with the motto of fostering an aspiring entrepreneur in every family.

The plan is to achieve this by ensuring timely completion of projects. For every investment of Rs. 1,000 crore, a senior officer will be assigned as an "escort officer" to monitor the project and ensure it is completed on schedule.

Targeting Rs. 10 Lakh Crore Investment in the Energy Sector:

There are significant changes underway in the energy sector, with a target to attract Rs. 10 lakh crore in investments and create employment for 7.5 lakh people. With the growing potential of solar energy, the government plans to encourage local electricity generation near homes and farms, thereby reducing fuel costs in the coming years. The establishment of solar panel manufacturing factories in Andhra Pradesh will be a priority.

Linking 35 Industrial Parks to Innovation Centres:

The state has formulated an industrial policy better than those of other states, with a five-year implementation period.

The aim is to attract foreign investments worth around 10 billion dollars to the state. The plan includes the establishment of 175 industrial parks, one in each constituency, and the creation of a Ratan Tata Innovation Center in Amaravati, with zonal centers in Visakhapatnam, Rajamahendravaram, Tirupati, and Anantapur.

Monitoring responsibilities will be entrusted to industrialists in these areas. A corpus fund of Rs. 500 crore will be set up over five years, and 35 industrial parks will be linked to each innovation center. Job creation remains a top priority for the government.

The state is also focusing on attracting port-based industries and Fortune 500 companies.

If private individuals wish to set up industrial parks on government land, the government will cooperate, and it will also provide incentives for farmers to establish industrial parks on their own land.

The ultimate goal is to balance industrial development with agricultural growth and create job opportunities for the youth.