Minister briefs AP Industrial Policy 4.0 to industry leaders in Sri City
Tirupati: In a move to position Andhra Pradesh as a global investment hub, Minister of Industries, Commerce, and Food Processing T.G. Bharath presented the state's new Industrial Policy 4.0 to industry leaders in Sri City on Tuesday. Crafted under the guidance of Chief Minister N. Chandrababu Naidu, the policy aims to attract Rs 30 lakh crore in investments over five years, including $10 billion in foreign direct investment.
Bharath emphasised that the policy is designed to improve speed, efficiency, and sustainability, aligning with Andhra Pradesh’s goal to become an innovation-driven destination for investors. He invited feedback from industry representatives to help refine the policy based on real business needs.
Secretary of industries and commerce Dr N. Yuvaraj, outlined key components, including the ‘speed of doing business’ framework, which simplifies administrative processes to create an investor-friendly environment. A multi-tier investment model for Private Industrial Parks (PIPs) has been introduced, classifying parks from nano to mega size and offering sector-specific incentives of up to 40 per cent, along with a 6 per cent decarbonisation incentive. Focus sectors include MSMEs, green energy, electronics, and food processing.
The policy aims to double exports to $40 billion, targeting key areas like automotive, IT, and aerospace. Programmes like ‘One Family - One Entrepreneur by 2030’ and the development of 175 industrial parks will further support job creation across the state.
Founder managing director of Sri City Dr Ravindra Sannareddy praised the policy’s focus on investment appeal. Industry leaders welcomed the “speed of doing business” framework and requested timely reimbursement of incentives, workforce development for women, and increased investment in vocational training.
