Chief Minister Chandrababu Naidu declared that ‘Employment First’ is the government’s policy in the state. He said there will be new policies to attract entrepreneurs and pave the way for “speed of doing business”.
Conducting a review with the officials on industries, MSME and food processing, he said there should be new policies for the state to get large investments. Officials have already prepared department-wise drafts on the instructions of the Chief Minister, the opinions of industry groups and the policies of other states which have given the best results.
According to the CM’s instructions that the industrial policy of AP should be the best compared to any state, policies are being designed to make it an investor friendly government. Efforts are being made to bring forward the draft policy for industries, MSME and food processing in the next cabinet meeting.
It has been decided to give additional incentives to the first 200 companies that come with investments as soon as the policy comes into effect. An additional 10 percent discount will be given to companies providing more jobs.
The CM said that he is thinking of giving industrial subsidies through escrow accounts which are not available anywhere in the country. CM Chandrababu advised the officials to study the possibilities and procedures comprehensively in this regard. He directed that the MSME policy should be based on the concept of “One Family – One Entrepreneur”.
It was decided to set up the Ratan Tata Innovation Hub at Amaravati for the promotion of industries. Affiliate centers will be set up to the hub in 5 regions of the state. They discussed the development of the food processing sector to produce results similar to those of Aqua and Poultry.
Proposals have been prepared to give 5 percent additional incentive to BC, SC, ST and women entrepreneurs in MSME and food processing sectors. Private Industrial Parks Policy was also discussed. Ministers Kondapalli Srinivas, TG Bharat and officials of respective departments attended the review.
