Vijayawada: The Andhra Pradesh government has released operational guidelines for three industrial policies aimed at accelerating industrial growth and economic development.
The guidelines apply to the Andhra Pradesh Industrial Development Policy 4.0 (AP IDP 4.0), the AP MSME & Entrepreneur Development Policy 4.0 (AP MEDP 4.0), and the AP Food Processing Policy 4.0 (AP FPP 4.0).
“The government launched a booklet, operational guidelines, and an early bird portal for the three policies,” stated a release on Friday. These were unveiled in the presence of Industries Minister T G Bharath and MSME Minister K Srinivas.
Addressing the gathering, Bharath explained the state government’s efforts to establish a robust mechanism for providing regular incentives to entrepreneurs, with further details to be announced next month.
Bharath, along with minister for MSME, SERP, and NRI empowerment Kondapalli Srinivas, and other officials unveiled the industrial sectoral policies with operational guidelines at a hotel on Friday. The meeting saw participation from entrepreneurs, businessmen, and officials from the Department of Industries, APIIC, MSME, and other departments. Addressing the gathering, Bharath explained the state government’s efforts to establish a robust mechanism for providing regular incentives to entrepreneurs, with further details to be announced next month.
He reiterated that Rs 3,000 crore to Rs. 5,000 crore in incentives would be disbursed using a ‘first-in, first-out’ method. The minister encouraged industrialists and businesspeople to promote the government’s policies at various forums to drive industrial development.
He noted that the TDP government had disbursed Rs 4,000 crore in incentives from 2014 to 2019, while the YSRCP government released approximately Rs 2,000 crore over five years.
