Andhra industrial policy to be announced on Friday
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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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