Andhra Pradesh: APEDB develops six principle formula to attract investments to the state

The Andhra Pradesh Economic Development Board (APEDB) has drawn up a plan to widely publicise six principles to attract investment in the state. It focuses mainly on six key benefits in line with Chief Minister YS Jagan Mohan Reddy's suggestion that investors in the state should be given a lifetime guarantee without risk. In particular, the provision of providing high-cost land for investment for cheaper and making the availability of low-cost water, electricity, and plenty of skilled human resources, from project proposals under the AP One name to the lifetime of the industry and the incentives to attract new industries. These six factors will be publicised in this year's road shows and investment conferences in the country and abroad.

It is noted that AP has lands with less rate compared to Gujarat, Tamil Nadu, Karnataka, Telangana, Uttar Pradesh and Maharashtra, which have the highest investment and Industries in our state earn an average of Rs 50 lakh to Rs 60 lakh per acre, while in the above states it is said to be between Rs 1 crore and Rs 2 crore. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has 48,352 acres of land available like no other state. Also collecting more land. Under the new industrial policy the project is allocating land on lease basis to reduce the initial cost. It also offers the opportunity to purchase them after successfully completing ten years of production. On the other hand, it is developing industrial parks with all the facilities to come directly to the plug-and-play process and start production.

The state government is providing quality electricity to industries at low cost. Competing states charge Rs 7 to Rs 10 per unit for industries while AP charges Rs 6 to Rs 7 per unit. It is also planning to set up a specialized company to provide uninterrupted water at a lower rate to industries. Converting seawater into fresh water as well as moving water specifically from reservoirs to industrial parks. Competing states charge between Rs 45 and Rs 250 per kiloliter while our state offers only Rs 50-55.

The government is investing heavily in skills development to provide opportunities to locals in the industries that are being set up in the state. For this, Skill Development University is setting up 30 skill development centers. At the same time, the availability of a large number of low-skilled workers compared to other states is a common factor. Competitive states have to pay between Rs 280 and Rs. 329 while skilled workers are available for an average wage of Rs 233.3 per day in the state.

The government has been providing hand-holding (hand holding) till the start of production and sales since the proposals to set up the industry through AP One in the state. Provides 10 types of services in single window mode. The industry is offering a number of industrial subsidies to those undertaking expansion programs and Tyler‌Made will offer discounts on large investments. Product-based subsidies in the field of electronics, government is offering additional subsidies to units set up in the YSR Electronic Manufacturing Cluster (EMC).

Meanwhile, Subrahmanyam, Director, State Industries Department prepared an action plan as per the directions of CM YS Jagan to provide infrastructure for setting up low cost industries in the state and to provide hand holding without risk. "We are setting up infrastructure in the plug-and-play system as well as identifying and replacing the needs of industries through a comprehensive industrial survey and are planning to attract investments by promoting the same," he said.