New policy promotes private industrial parks to attract investments, create jobs.
The Andhra Pradesh government has introduced a new policy aimed at fostering private industrial park development to make the state a progressive industrial hub. This initiative seeks to attract private developers by offering support in establishing world-class industrial infrastructure with a focus on employment generation and economic growth.
Under the policy, private industrial parks with “plug and play” infrastructure will cater to enterprises aiming to diversify their manufacturing base and expand into new markets. “The policy is designed to provide an ideal setup for companies looking at Andhra Pradesh as a favorable investment destination,” said Dr. N Yuvaraj, Secretary of Industries, highlighting that the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) will support key infrastructure, including roads, water supply, and eco-friendly facilities like CETPs.
Industries Minister B C Janardhan Reddy emphasised the policy’s focus on creating a conducive environment for investment over its five-year span. The policy mandates that half of the identified land and investment be dedicated to industrial activities to qualify as operational.
