CII applauds AP’s six new policy frameworks

Visakhapatnam:The Andhra Pradesh chapter of Confederation of Indian Industry (CII) on Saturday expressed its strong support to the six new policy frameworks approved by the state cabinet to enhance the investment climate in AP.

Addressing a press conference here on Saturday, CII AP chairman V. Murali Krishna described the policies as "pro-active and forward-thinking." He said these policies of Chief Minister N. Chandrababu Naidu have the potential to put Andhra Pradesh among the top three states in India that attract investments.

Murali Krishna felt these policies will attract ₹30,000 crore investments in manufacturing, apart from ₹83,000 crore in foreign direct investment (FDI). This will facilitate establishment of 175 industrial parks, where around 2.2 million micro, small, and medium enterprises (MSMEs) can be established.

"The decisions to offer 10 per cent additional incentives for job creation and six per cent for reducing carbon footprint will provide a much-needed booster dose for the state’s economic growth, contributing to at least 15 per cent growth rate," the CII AP chairman stated.

Supporting this sentiment, G. Sambasiva Rao, convener of CII’s Infrastructure and Logistics panel, praised the government's initiative to allow establishment of private industrial parks spread over 10 acres to 100 acres.

G.S. Sivakumar, convener of CII’s Tech Adoption and Digital Transformation panel, commended introduction of a single-window system for approvals through a dedicated regional Economic Development Board.

D. Tirupathi Raju, past chairman of CII AP, said these policies align with the One District One Product initiative and will promote balanced regional development.

K.V.V. Raju and J. Srinivas Raju of the CII emphasised that such effective policies could significantly attract foreign direct investment within a short timeframe, while ensuring that benefits reach the common man.