AP IT minister Mekapati Gautam Reddy to release new Industrial policy tomorrow

Andhra Pradesh industrial Minister Mekapati Gautam Reddy will tomorrow release a new industrial policy for the years 2020-23 at 11 a.m. at the APIIC office in Mangalagiri. The new industrial policy that involves people and entrepreneurs is aimed at the holistic development of all areas with respect to industrial, commercial, and economical activities.

According to the new policy, special subsidies will be provided to SC, ST, BC and minority women entrepreneurs and it will be a big help to micro and small enterprises (MSMEs). Special emphasis will be placed on transparency and infrastructure design by giving utmost priority to investments in key sectors including pharma, textile, automobile, electronics and petrochemicals. There will be additional subsidies in line with investment proposals for mega projects.

It is said that the steps will be taken to allow the establishment of industries faster who produce employment. Clear procedures will be finalized on the land allotment, stamp duty, state GST, Nala charges, interest subsidy and electricity subsidy. The government will set up 30 skill training centres to provide skilled human resources along with two skill varsities for digital employment exchanges