Release of industrial incentives hailed

Vijayawada: AP Chambers has welcomed the Andhra Pradesh Government’s release of approximately Rs 1,400 crore towards pending industrial incentives, including Rs 22 crore for food processing units, describing it as a timely boost to industries, particularly micro and small enterprises.

In a statement, AP Chambers president Potluri Bhaskara Rao said the initiative would provide much-needed financial relief to MSMEs, improve their working capital availability and strengthen their operational capabilities.

He expressed sincere gratitude to Chief Minister N Chandrababu Naidu for his proactive leadership and commitment to industrial development. He said the State Government had been promoting an industry-friendly ecosystem through its focus on Ease of Doing Business and Speed of Doing Business. Andhra Pradesh was rapidly emerging as a preferred investment destination, attracting substantial investments through its progressive industrial policies, he observed.

AP Chambers appreciated the government’s continued efforts to support existing industries while encouraging fresh investments, generating employment opportunities and accelerating the State’s overall economic growth.

ABOUT THE AUTHOR

The Hans India