Vijayawada: Minister for industries, commerce, and food processing T G Bharath said that the state government will soon release incentives ranging from Rs 3,000 crore to Rs 5,000 crore for entrepreneurs. He urged entrepreneurs and businessmen to continue investing in Andhra Pradesh to foster industrial growth. Bharath assured that the government is working to enhance the ease and speed of doing business, with a recent meeting held to discuss these efforts.

Bharath, along with minister for MSME, SERP, and NRI empowerment Kondapalli Srinivas and other officials, unveiled the industrial sectoral policies with operational guidelines at a hotel on Friday. The meeting saw participation from entrepreneurs, businessmen, and officials from the department of industries, APIIC, MSME, and other departments.

Addressing the gathering, Bharath explained the state government’s efforts to establish a robust mechanism for providing regular incentives to entrepreneurs, with further details to be announced next month.

He reiterated that Rs 3,000 crore to Rs. 5,000 crore in incentives would be disbursed using a ‘first-in, first-out’ method. The minister encouraged industrialists and businesspeople to promote the government’s policies at various forums to drive industrial development.

He noted that the TDP government had disbursed Rs 4,000 crore in incentives from 2014 to 2019, while the YSRCP government released approximately Rs 2,000 crore over five years.

Minister Kondapalli Srinivas, responsible for MSME, NRI empowerment, and the Society for Elimination of Rural Poverty (SERP), said he has been addressing numerous grievances from businesses and entrepreneurs.

He revealed plans to establish one industrial park per Assembly constituency, starting with one park in each district as soon as possible. Srinivas added that the MSME department has been restructured to support industrial growth.

He also announced the launch of an MSME portal to provide information and solutions to entrepreneurs and businessmen. Stressing the importance of self-employment, Srinivas said the industries department aims to create “one entrepreneur per household.” He underscored the role of incentives in boosting industrial growth, affirming that the government will release them soon.