VIJAYAWADA: Chief Minister N. Chandrababu Naidu has emphasized that Andhra Pradesh's new Industrial Policy must position the state among the top five in the nation for industrial development.
During a review of the draft New Industrial Development Policy 2024-29 at the State Secretariat on Monday, presented by Industries Minister TG Bharath and other officials, Naidu stressed the need for the policy to drive a 15% growth rate. He advised incorporating suggestions from NITI Aayog into the policy and focusing on restoring Andhra Pradesh's industrial brand image.
Naidu highlighted that Andhra Pradesh was a leader from 2014-19 in offering incentives for industry establishment, infrastructure development, and Ease of Doing Business. He insisted that the new policy must build confidence among industrialists and include Public Private Partnership and P4 (Public Private People Partnership) models.
Noting that Andhra Pradesh is ahead of many other states with its 10 ports, 10 airports, and improved road and logistics connectivity, Naidu argued that these advantages should attract investors. He suggested that the East Coast, with its superior connectivity, is a preferable location compared to the West Coast for new industrial ventures.
Naidu urged officials to streamline approval processes to facilitate rapid establishment of industries. He emphasized the goal of making Andhra Pradesh the preferred destination for new investments in India, recalling instances where companies like Hero Motors and Apollo Tyres initially chose other states but were later brought to Andhra Pradesh.
In addition, Naidu announced a meeting with industrialists on August 16 and instructed officials to organize a follow-up meeting on August 23 to further discuss the proposed Industrial Development Policy.