AP Chambers praises new industrial policies by state government
“The State Government has announced around six policies that will significantly enhance investment opportunities and boost our economy,” AP Chambers president Potluri Bhaskara Rao said
Vijayawada: The AP Chambers of Commerce and Industry lauded the new industrial policies approved by the State Cabinet during a press conference held on Thursday. AP Chambers president Potluri Bhaskara Rao, emphasised the commitment of Chief Minister N. Chandrababu Naidu to creating one of the best policy frameworks in the country to stimulate investment and economic growth.
“The State Government has announced around six policies that will significantly enhance investment opportunities and boost our economy,” Rao stated. He highlighted the development of industrial parks through Public-Private Partnerships (PPP), which will utilise private land while the government focuses on infrastructure development.
The announcement included a reduction in land rates at the Mallavalli Industrial Park in Krishna district, reverting to the previous rate of ₹16.5 lakhs per acre.
General secretary of AP Chambers B. Raja Sekhar expressed satisfaction with the new policies, noting that many suggestions from the Chamber were incorporated. The government aims to attract 10 billion in investments and create approximately two million jobs between 2024 and 2029, with around 1.5 billion earmarked for reimbursement to investors based on their contributions.
Vice chairman of AP Chambers’ Energy Committee B. Phani Chandra, highlighted the potential for significant investment in clean energy initiatives under the new integrated energy policy. He commended subsidies for solar manufacturing and green hydrogen projects while advocating for expanded solar rooftop schemes for MSMEs and agriculture.
The newly introduced AP Electronics Policy was also praised. G. Radhika, Vice Chairman of AP Chambers Affiliates Council, expressed gratitude for the reduction in rates at Mallavalli Industrial Park, which is expected to benefit local businesses significantly.
D. Aparna, a Board Member of AP Chambers, thanked the Chief Minister for initiatives aimed at boosting women’s entrepreneurship, aiming to increase female participation from 3% to 30% in the coming years.