AP unveils industrial development policy in Assembly

By The Capital

On 14 Nov 2024 17:06:25

AP unveils industrial development policy in Assembly

Minister for Industries TG Bharat introduced Andhra Pradesh's ambitious Industrial Development Policy 4.0 in the Assembly,

Minister for Industries TG Bharat introduced Andhra Pradesh's ambitious Industrial Development Policy 4.0 in the Assembly, aiming to attract Rs 5 lakh crore in investments and create 5 lakh jobs by 2029. Emphasizing the policy's goal to strengthen MSMEs, he outlined plans for new industrial parks and incentives based on employment generation.

Minister Bharat addressedconcerns raised by industrialists comparing AP to North Korea under YS Jagan Mohan Reddy’s rule, especially due to controversies such as the cancellation of Power Purchase Agreements (PPAs) during the YSRCP administration, which he acknowledged had tarnished the State’s image.

Recently, at a Dubai industrialists' conference, he highlighted AP’s strategic advantages and renewed commitment to ease of doing business, emphasizing a revamped policy framework to boost industrial confidence. The new policy classifies industries into four categories, each with targeted incentives, aiming to build on past successes while attracting new investments across sectors.