Industry
A major element of Andhra Pradesh’s growth agenda will be building a thriving and prosperous industrial sector. By 2020, Andhra Pradesh’s industrial sector will be growing at 11 per cent a year in real terms. Andhra Pradesh will be the preferred destination for industrial investment. The State will have a competitive economy, driven mainly by private investment. Furthermore, it will pursue sustainable development, through investments and approaches that conserve resources and safeguard the environment.
commercial banks are functioning in the state in rural and urban areas. The state has a good network of specialized SSI branches for extending assistance to small and tiny industry. “In the Industrial infrastructure front, the State has taken lot of initiatives for development of industrial infrastructure for the consistent growth. Government in association with APIIC has initiated a set of prestigious projects that include industrial infrastructure, social infrastructure and infrastructure for the specific sectors. The state owned corporation APIIC has already set up 272 industrial estates and specialized parks like ICICI Knowledge Park, SP Bio-tech Park, Marine Bio-tech Park, Agri Bio-tech Park, Special Economic Zone, Pharma City, Hardware Park, HITEC city, Leather Parks, Food Processing Park, Agri Export Zones etc.,” said Bob.
Andhra Pradesh is showering a great deal of incentives such as concessions in land allocations, power at lower tariffs and exemptions in tax. The markets too are potentially well to absorb new products with an enthusiastic environment. Andhra Pradesh has plenty of resources -agriculture, horticulture, mines & mineral, marine foods, skilled manpower and second longest sea cost in the country. Initiatives are being taken by the government to exploit all the available resources and encourage more and more new entrants to establish industries which would in turn create employment opportunities in the state. “The State Government recognizes the fact that for a faster growth of the State’s economy, the Industrial Sector must remain vibrant and growing. Efforts are also being made to make it easier for industries and businesses to carry on their operations by simplification of procedures, rules, inspections, registrations, Single Window Clearance System, etc. The Government of Andhra Pradesh has come up with a vibrant Industrial Investment Promotion Policy 2005-10 with various incentives/concessions to new industries set up in the State,” B Sam Bob, Principal Secretary, Industries. Andhra Pradesh is the only State with abundant energy. It has an installed capacity for generating 10 273.44 MW, the second highest in the country and many projects are under implementation to generate 4715 MW by 2009. Among all Indian States, Andhra Pradesh has progressed furthest in reforming its energy sector (privatization, separation of generation from transmission and distribution). The state has an exclusive financial institution APSFC for providing finance to small industry. Apart from this 5288
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B Sam Bob, Principal Secretary, Industries The State has also undertaken wide-ranging measures to nurture its industries: simplified, less restrictive regulations, labor and fiscal reforms, incentives. In line with this objective, the State has enacted a law for single-window clearances. It is the first Sate in the country to have a law for single-window clearances, which ensures that all clearances to investors are given within a set period. The State has been qualified as “flexible” in its approach to labor regulations and “good” for its simplification of rules and regulations. It introduced the self-certification concept, common annual returns in place of multiple returns with simplified registers, and zero inspection regime through accredited agencies.
51 Andhra Pradesh Celebrations - 2009