AP readying new industrial policy

Vijayawada: Chief Minister N Chandrababu Naidu has asked Industries Minister T G Bharat and officials to speed up the preparation of new industrial policy. He said the proposed policy should be such that Andhra Pradesh should be among the top five best destinations for investments in the country.

Reviewing the draft policy proposals submitted by the minister, Naidu said the recommendations of Niti Aayog should also be taken into consideration and the target should be an overall growth rate of 15 percent and it should be highly investor-friendly so that AP can get back its earlier brand image of being the best destination for investments and change the industrial landscape of the state. It has also been decided to hold a meeting with some industrialists on Friday. The new policy, he said, should clearly reflect the logistic and other natural advantages the state has for ease of doing business and any investor coming from abroad should consider AP as the first choice. The CM said Green Energy, Green Hydrogen, Electric vehicles, Aqua are some of the sectors where there was huge scope for setting up new industries and the new policy should focus on these sectors.

He said the new policy should be ready before the government completes its 100 days in office.