Andhra Pradesh launches state Industrial Development Policy 2020-23

The Andhra Pradesh government launched state Industrial Development Policy 2020-23 on August 10, 2020. The State Industries Minister Gautam Reddy unveiled the much-awaited policy. 

While speaking at the launch, Reddy said that the state Industrial Development Policy 2020-23 envisages all-round and holistic development with the idea of empowerment being crucial.

Andhra Pradesh government launches state Industrial Development Policy 2020-23.
Speaking at the launch, State Industries Minister Gautam Reddy said, "This policy basically envisages all-round and holistic development with the idea of empowerment being crucial." pic.twitter.com/AKcKGfZAu7

— ANI (@ANI) August 10, 2020

AP Industrial Development Policy: Key Highlights 

• The AP Industrial Development Policy will pave way for the development of plug and play infrastructure facilities targeting MSMEs at affordable rates.

• It will also enable the development of clusters and mega industrial parks along with the three major corridors.

• It will also enable the development of specific industrial parks as per local needs.

• The Industrial zoning will be a key focus area to ensure planned Industrial development.

• The policy will further aim to provide a ‘risk-free’ investment-friendly environment for industries in the state. 
It will also ensure minimised impact on the environment.

• A separate industrial zoning and safety policy is under development.

• The policy will further enable a faster approval process, establish central helpline desk and enable district level interventions by collectors.

It will also improve access to credit through regular meetings with bankers.

Under the new industrial policy, 30 skill development centres and 2 skill development universities will be opened. 

Background

The Andhra Pradesh state government has prepared its new industrial policy after extensive stakeholder consultations with industry and academics and incorporated global best practices while ensuring that the aspirations of the youth are addressed. 

Chief Minister YS Jagan Mohan Reddy is keen on equitable development and affecting the change at the grass-roots level, hence the policy lays focus on equitable development across the regions while providing special incentives for women and SC/ST/BC entrepreneurs.

The policy will provide best-in-class infrastructure, zero hassle setup, skilled labour availability and end to end handholding support for units to provide an industry-friendly environment at par with international standards.