Andhra Pradesh unveils new Industrial Policy with focus on 10 key sectors

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August 12, 2020 1:45 AM

Andhra Pradesh has 70.9% (2018) of its total population in the working-age and this is the second-highest share in India.

The land allotment on lease cum buy out model has been given in the policy.The land allotment on lease cum buy out model has been given in the policy.

The Andhra Pradesh government has unveiled its Industrial Policy 2020-23 with a focus on 10 key sectors. Manufacturing has been given high priority to create large scale employment.

The policy aims to drive industrialisation based on the natural competitive advantages of the state such as long coastline, availability of power and water, infrastructure & connectivity, and a large pool of talented resources. At the same time, the focus is also on promoting high value add and cutting edge industries to be future proof. The 10 sectors which will be in focus include niche areas like toys and furniture, footwear and leather, machinery and precision equipment, aerospace and defence including the already in focus sectors like pharma, textiles, automobile, electronics and petrochemicals.

The policy also envisages implementing Industrial Zoning to ensure a planned industrial development and to provide a ‘risk-free’ investment-friendly environment for setting up and operating industries in the state and minimise the impact on the environment. The land allotment on lease cum buy out model has been given in the policy.

“De-risking the investments is the cornerstone of the new industrial policy. We are introducing ‘YSR AP One’, a multi-faceted business enablement centre which acts as a one- stop resource and support centre for industries,” state Industries and Infrastructure Minister Mekapati Goutham Reddy said, unveiling the new policy at the AP Industrial Infrastructure Corporation.

‘YSR AP One’ would provide handholding support (to investors) during pre-establishment and setup of industrial units, post-setupsupport, backward and forwardlinkages and access to market and new technologies among other things, the minister said.

Andhra Pradesh has 70.9% (2018) of its total population in the working-age and this is the second-highest share in India. Hence, promoting skill development and entrepreneurship with 30 skill development colleges to address the aspirations of the youth and creating better living standards has been chosen as another key focus area of the policy.

“The manufacturing sector, as an employment provider, remains a high priority for the state. The government will undertake structural reforms to accelerate industrialisation in the state. We believe that providing the right facilities at the right cost and offering transparent approvals is critical to the success of the industrial sector,” Goutham Reddy noted.

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