Andhra Pradesh Space Policy 4.0 has been formulated to attract investments of Rs 25,000 crore in the state. Chief Minister Chandrababu Naidu said that this will directly create employment opportunities for 5,000 people and indirectly for 30,000 people. He instructed the officials to take all necessary steps to make the state number one in the country in the space sector.
Andhra Pradesh Space Technology Advisor and former ISRO Chairman Somnath participated in the review held with the Chief Minister on this policy through video conference. Speaking on the occasion, Somnath said that the central government has launched several key projects under the Space Vision Policy-2047. He explained to the Chief Minister that the future belongs to the space sector and there is a need to formulate and implement strategic plans in this sector in advance.
He believed that Andhra Pradesh has all the opportunities to play a key role in the space sector. The Chief Minister, who approved the establishment of space cities in Lepakshi and Tirupati, said that educational institutions should be partners in the policy and interest in the space sector should be increased among the youth.
He suggested that a common infrastructure should be provided to make technology available and a plug and play approach should be implemented. Priority will be given to the establishment of a space city based on design, R&D, space startups and innovation ecosystem in 500 acres in Lepakshi.
It has been decided in principle that Tirupati Space City should be allocated for the establishment of companies providing manufacturing and launch logistics services. Only launch vehicle assembly, satellite-payload assembly, mechanical system-component manufacturing, and electronic-avionics assembly companies will be provided opportunities in this city.
As an investment incentive, investments have been divided into micro, small, medium, large and mega categories at different levels from Rs. 1 crore to Rs. 500 crore. The CM reviewed the proposals for providing investment subsidies ranging from 25 percent to 45 percent for these. Similarly, the issue of providing special incentives for women, BCs, SCs, STs, minorities and the disabled was also discussed.
