Andhra industrial policy to be announced on Friday

Last Updated: Thursday, June 17, 2010 - 18:46

Hyderabad: Building `Brand Andhra Pradesh`
and achieving a growth rate of 12 to 17 per cent in the
manufacturing sector, with special focus on micro, small and
medium enterprises (MSMEs), will be the thrust of the new
Andhra Pradesh Industrial Policy 2010-15.

The policy will be ratified by the state cabinet and
announced tomorrow.

Chief Minister K Rosaiah discussed the policy with major
industries minister Kanna Lakshmi Narayana, Principal
Secretary (Industries) B Sam Bob and other senior officials
here today.

"Once the new Industrial Policy comes into force, Andhra
Pradesh will become the best investment destination in the
country," the Chief Minister`s Office said, quoting Rosaiah.
The new policy would offer `better incentives` to investors so
as to attract more investments into the state, the CMO said in
a release.

The Chief Minister said the ultimate objective was to
achieve manufacturing growth rate of 12 per cent to 17 per
cent and create additional employment for five lakh persons
per year (two lakh direct and three lakh indirect).

The new Industrial Policy would also correct the
`regional imbalances` and leverage the strengths in different
sectors.

The state has decided to promote gas-based industries in
view of the availability of natural gas in the Krishna-
Godavari Basin.

PTI



First Published: Thursday, June 17, 2010 - 18:46

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