The Andhra Pradesh Government has launched a new State Industrial Development Policy for the year 2020-23. The policy aimed to create employment for youth and match national average in industrial GVA per capita. The previous Industrial Development Policy of the state was implemented between 2015-20
The policy was unveiled by the State Industries Minister Gautam Reddy. The policy aims to promote well-balanced regional growth. It ensures fast turn out time for grounding investment proposals. Also, it will train and provide skills to workforce in order attract global investment.
The main objective of the policy is to create employment. It also intends to balance growth across regions and communities in the state. Also, it plans to achieve environmentally sustainable growth.
Key Features of the Policy
- The policy paves way to develop infrastructure facilities targeting MSMEs at affordable rates.
- The policy will enable development of mega industrial parks according to the local needs.
- The industrial zoning is to be the key focus area of the policy to ensure planned industrial development.
- The policy will also aim to provide risk-free investment friendly environment to industries. Above all, the policy will ensure minimised environmental impacts amidst industrial development.
Ease of Doing Business
The policy will also enable faster approval process and enable district level interventions.
The State Government of Andhra Pradesh is to create 30 skill development centres and two skill development universities under the policy. The policy will increase the speed of approval processes and enable district level interventions by collector and also will establish central helpline desk.
The Policy has been prepared by the State Government after extensive consultations with the stakeholders in industrial, academics and corporate sectors. The policy will provide skilled labours, best-in-class infrastructure and end to end handholding support for units to provide industry friendly environment.
Significance of the Policy to India
The State is the 8th largest state in the country that holds 4% of population.