Live
- I want to have that chance of playing in IPL, says Swastik Chikara ahead of mega auction
- Damson Technologies Inaugurates State-of-the-Art Manufacturing Facility in Ahmedabad with Rs. 200 Crore planned Investment
- Waqf row: BJP stages protest condemning land grab in Karnataka
- President Droupadi Murmu Graces Koti Deepotsavam in Hyderabad
- South Korean court sentences ex-fiance of Olympic fencing medalist to 13-yr prison term
- Posani Krishna Murali Announces Exit from Politics
- Allu Arjun and Sreeleela to Ignite the Stage with Pushpa-2’s Special Song
- World Television Day 2024: From B&W Beginnings to Smart TVs and Their Role in Shaping Elections
- Bihar: Kaimur residents buy cheap medicines from Jan Aushadhi Kendras, thanks govt
- JMM confident of winning 59 seats in Jharkhand
AP to formulate robust industrial policy
- Employment creation first objective, says CM Naidu
- Will compete with other states with 15% growth rate
- To set up ‘Ratan Tata Innovation Hub’ at Amaravati
Vijayawada: To create a robust investment climate in Andhra Pradesh, Chief Minister N Chandrababu Naidu has directed the officials to formulate policies to speed up business and attract large-scale investments. He said the policies should not only be investor-friendly but also create large-scale employment in the state so that AP can compete with Telangana, Karnataka and Tamil Nadu.
Naidu, who reviewed the new policies in the making, said the proposed Industrial Policy should be integrated with 28 departments.
He said the officials have been working on the draft policy for the past three months and had taken the opinion of the representatives of the industry and studied the existing policies in other states.
The CM told the officials to see that the draft policy should clearly mention that food processing, Micro, Small and Medium Enterprises which will go in for one-family one-industry concept will get additional incentives. He said any industry which can generate more employment will get an additional 10% incentive.
The Chief Minister said to commemorate the profound legacy of Ratan Tata, the state government would establish an Innovation Hub titled ‘Ratan Tata Innovation Hub at Amaravati.
This hub will foster innovation, entrepreneurship ecosystem and mentor startups. It will also be linked to five other zonal centers, each mentored and fostered by reputed business groups and facilitate technology and skill upgradation in emerging sectors.
The government is also in the process of finalizing the policy on Drones, IT and Electronics. All these policies would be placed before the next Cabinet for approval.
According to the officials, 200 companies that come forward first to submit their Consent of Establishment Date of Commercial Production will be provided with more incentives.
The Chief Minister said the state government is thinking of a novel way of providing industrial incentives through escrow accounts, which, he felt, will help provide greater encouragement for industrial progress and better employment opportunities.
