CM Aims Creation of 20 Lakh Jobs, Sets Up GoM to Suggest Steps

Vijayawada: Chief Minister N. Chandrababu Naidu has initiated steps to attract investments of Rs 30 lakh crore by introducing the new Andhra Pradesh Industrial Development Policy 2024-29.

Naidu aims to provide employment to 20 lakh people over a course of time. With these ends in view, he initiated the Private Industrial Parks with 'Plug and Play' Industrial Infrastructure (4.0) 2024-29. Under this initiative, AP will be able to create a conducive environment for enterprise.

For the creation of 20 lakh jobs, the AP Industries and Commerce Department would take the lead. The CM has constituted a Group of Ministers (GoM) to review and suggest steps in this direction.

Secretary to Government, N Yuvaraj, issued the GO constituting the GoM. It will have education and HR minister Nara Lokesh as chairman, industries minister TG Bharath, industries minister Gottipati Ravi Kumar, energy minister Kandula Durgesh, tourism minister Ponguru Narayana and MS&ME minister Kondapalli Srinivas as members.

The CM was quoted as saying, “We have promised the people 20 lakh jobs. As part of this, new policies are being brought in for the next five years and all policies would majorly aim to achieve the goal, Job First.”

Naidu said the alliance government would create new policies for jobs and care for the future of educated youth. “The youth of AP is moving forward with the slogan of Think Globally, Act Globally.”

Launching the new AP Industrial Development Policy (4.0) 2024-29, the government has issued GO Ms68 to provide various incentives and support for the promotion of industries in the state.

An official release claimed that Andhra Pradesh has consistently been at the forefront of industrial development, implementing numerous policy initiatives to foster growth and innovation. Through its new industrial policy, the state aims to address several key areas like “blanced, resilient and sustainable growth, green energy transition, integration into global value chain, making AP the Gateway to the East, Riding the Emerging Tech Wave, capitalise on demographic dividend, a circular economy, industry 4.0 and AI adoption etc, the release said.

It said capital subsidy on investments and additional subsidies like top-up subsidy on PLI subsidy, employment subsidy and decarburization subsidy are proposed for the first time. These would attract many investors to the state. This policy shall be in force for a period of five years from the date of the policy notification, or till a new policy is announced.

Notably, the chief minister announced the state’s policy for establishment of Private Industrial Parks with a 'Plug and Play' Industrial Infrastructure (4.0) 2024-29 and orders to this effect have been issued.

“With the 'Plug and Play' Industrial Infrastructure (4.0) policy intervention, Andhra Pradesh will be able to create a conducive environment for enterprises looking to diversify their manufacturing base and expand to new markets, without compromising climate goals,” the statement quoting the ministers said.