Naidu pitches for global investments

Chandigarh: Ahead of the assembly elections in Maharashtra and Jharkhand the National Democratic Alliance Chief Ministers' Council meeting was held here on Thursday.

Chief Ministers and deputy chief ministers of the BJP-led NDA attended the conclave to deliberate on development issues, the 'Amrit Mahotsav' of the Constitution and the 50th anniversary year of the "attempt to murder" democracy, which is a reference to the Emergency imposed in 1975.

The meeting was chaired by Prime Minister Narendra Modi, Union Ministers Amit Shah, Rajnath Singh and J P Nadda, Andhra Pradesh Chief Minister N Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, Maharashtra Chief Minister Eknath Shinde, two Deputy CMs Devendra Fadnavis and Ajit Pawar, Gujarat CM Bhupendra Patel, Uttar Pradesh CM Yogi Adityanath and Goa CM Pramod Sawant attended the meeting.

Chandrababu Naidu utilised the forum to explain how Andhra Pradesh was eyeing Rs 10 lakh crore investment in the clean energy sector in the state and the red carpet it had rolled out to the industrialists and entrepreneurs under its new industrial policy.

Naidu said that AP now was the best destination for investments as its policy ensures the speed of business and would extend the best incentives for the growth of business and industrial development. It would be an exciting experience for industrialists, and this was the best time for investments in the state, he said. Naidu said the new policy envisages incentives ranging from hassle-free land acquisition at a reasonable price to power subsidies to certain sectors. The policy involves a proposed investment outlay of Rs 10 lakh crore, creating direct and indirect employment for 7,50,000 workers.

The policy looks to leverage the state's vast renewable energy potential across wind, solar and hybrid sources, storage capabilities through pumped storage projects, a long coastline, six operational ports (with four under development) and skilled manpower availability as it pivots energy transition. To develop relevant skills in our workforce, the University for Green Energy and Circular Economy (UGC) will be established in collaboration with the Government of India and industries under PPP (Public-Private Partnership) Mode, it said.

Clean Energy Knowledge & Skill Development Center (CEKSDC) will be formed to serve as a knowledge and training hub and enable partnerships with academia, think tanks, and industry. The incentives in the policy include concessional land leases for all clean energy projects as well as renewable energy component manufacturing units.

He further said Stamp duty will be waived for mini-hydro, pump storage projects, battery storage, biofuels and manufacturing units while capital subsidies provided for battery storage, green hydrogen, biofuels and renewable energy manufacturing projects. He said that electricity duty and other open access charges will be waived other incentives include a capital subsidy for electrolyser and biofuel projects, reimbursement of the Net state GST for 5 years.