Naidu noted that investors who had signed MOUs when TDP was in power went back during the YSRCP regime due to its policy.
Published Aug 01, 2024 | 9:00 AM ⚊ Updated Aug 01, 2024 | 9:00 AM
Andhra Pradesh Chief Minister N Chandrababu Naidu. (X)
The Telugu Desam-led NDA government in Andhra Pradesh is expected to come up with policies for five sectors soon – Industries, MSME, Food Processing, Electronics, IT & Cloud, and Textiles.
The government is contemplating the creation of industrial corridors in four regions while offering a package of attractive incentives to those who show interest in investing in the state.
Chief Minister N Chandrababu Naidu, at a review meeting with officials on the status of industries in the state on Wednesday, 31 July at the state secretariat in Velagapudi near Vijayawada, wanted the officials to focus on initiating dialogue with the investors who went back during the YSRCP regime after signing MoUs.
He laid stress on the projects that were in various stages of implementation and asked the officials to speed them up. The aim is to ensure that at least ₹1 lakh crore investments would flow into the state in the next year with an employment potential for about 1,36,260 youths.
He said that the government was taking a hard look at reducing the prices of lands in Mallapalli Industrial Park in the erstwhile Krishna district.
Naidu noted with concern that when the TDP was in power in 2014-19, investors had singed MoUs to park up to ₹16 lakh crore in the state. But they went back after the previous YSRCP government followed a policy that was inimical to their interest.
“Several companies went back after those in the previous government harassed them with political motives,” the chief minister said, adding that no new companies had come to invest during the last five years.
Naidu underscored the need for restoring confidence in the investors, now that a government that provides the right ecosystem for the industry to flourish, was in place. He said it was unfortunate that the previous government had set aside the lands that were acquired for industrial purpose, claiming that they should be used for distribution to the landless poor.
Naidu said that when he was the chief minister of the state, he had offered a package of 66 incentives to the industrial sector which shrank by 34 percent under the previous government. He said he would consider offering more incentives to the industry which would lead to investments flowing into the state.
The chief minister said that in 2014-19 when the TDP was in power, 14,125 acres of land was made available for industries in 64 industrial parks. But in 2019-24, only 31 parks were created which discouraged the investors, he said and asked the officials to reopen dialogue with those who went back and invite them to the state. “If necessary, I too will talk to them,” Naidu said.
Referring to need for policies for various sectors to give fillip to industrial growth, the chief minister asked the officials to work on at least five policies in the next 100 days for industries – MSME, Food processing, Electronics, IT & Cloud, and Textiles. The focus should be to convert the state into a Green Hydrogen and Green Energy hub.
He also asked the officials to come up with proposals for creation of four industrial clusters and obtain central clearances. They should be located in Kuppam, Mulapet, Chilamattur, Donakonda or Pamuru. The officials should put in efforts to encourage companies that are into electronics, pharma, food processing and hardware, to set up their units in the state.
The chief minister reviewed the progress of bulk drugs park to be set up with an investment of ₹11,542 crore and the ₹60,000 crore NTPC’s Green Hydrogen Hub. He wanted the official to speak to the BPCL officials on the progress of their proposed projects in the state.
(Edited by Neena)
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