New Industrial Policy For Andhra Pradesh From April 1st

Andhra Pradesh has been one of the foremost states to have developed sector-specific policies. Forming industrial clusters and developing infrastructure, such as biotech parks, textile parks, and hardware parks, has been the state’s key strategy to attract investments in various industries.

Once again the state government is looking forward to building a better environment for industries to create new job opportunities. The state government has officially announced that it will implement a new industrial policy from April 2020.

“The Industrial Development Policy 2020-25 is under formulation and will come into effect from April 1, 2020,” said JVN Subramanyam, Director of Industries, Commerce and Export Promotion.

He also said that while it is being formulated, its draft will be published in January itself. The government will focus on how to involve more and more industrialists so they give their land and approvals on time.

According to the government, the new policy will provide 75 percent of jobs in industries to locals. As the infrastructure works in the Visakhapatnam - Chennai Industrial Corridor (VCIC) will pick up in the new year, several companies seeking expansion will rush to the State, they added.

The government is also putting efforts into Digital Employment which will exchange and contain details of skilled personnel and workers to help the manufacturers. This online platform is supposed to be a game-changer.