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AP policy will promote growth, create jobs: CII

Confederation of Indian Industry
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Confederation of Indian Industry

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Says AP’s new industrial policy lays emphasis on promoting entrepreneurship

Hyderabad: The Andhra Pradesh chapter of Confederation of Indian Industry (CII AP) said the new Industrial Development Policy 2020-23 announced by the Andhra Pradesh government on Monday would fuel growth and create more jobs in the State.

Welcoming the new policy released by Industries Minister Mekapati Goutham Reddy, the industry body said that the policy laid emphasis on promoting skill development and entrepreneurship. "30 skill development centres which will be set up across the State will ensure the availability of skilled manpower for industry," said Dasari Ramakrishna, Chairman, CII AP.

He thanked the Industries Minister for laying greater focus on MSME, end-to-end business facilitation and balanced regional development in the new policy.

The policy is in line with CII recommendations to the government to give greater impetus to sectoral strengths and natural advantage of the State. The advantage of the State in sectors like aerospace and defence, pharma, textiles, automobile, electronics and petrochemicals would attract greater investments under the new policy, CII AP said in a statement.

Under the Ease of Doing Business, the policy envisages setting up of YSR AP One, a multi-faceted business enablement centre to assist investors throughout the entire investment life cycle, which is a great move, Ramakrishna said.

De-risking the investments, development of plug and play infrastructure facilities targeting MSME players at affordable rates with an end-to-end support for investors are the cornerstone of the policy which augurs well for pushing growth and development through industrial development.

As a part of policy consultations with industry, CII also suggested to the government to focus on more industrial clusters, which was accepted. The policy framed in with an inclusive developmental approach will greatly help the development of all sections of society particularly encouraging women and youth entrepreneurs apart from job creation, he added.

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