Chief Minister Chandrababu said that a new industrial policy is being formulated to attract investments into the state. For this purpose, the policies implemented in many states will be examined.
in the next 100 days, five policies
to complete Rs.1 lakh crore projects in a year
Chief Minister Chandrababu in a review of the Industries Department
Amaravati: Chief Minister Chandrababu said that a new industrial policy is being formulated to attract investments into the state. For this purpose, the policies implemented in many states will be examined. How many memorandums of understanding (MoUs) signed with various organizations have materialized in the last ten years? What about the rest? The issues were reviewed with the officials of the Industries Department at the CM’s Secretariat on Wednesday.
Industrialists are afraid to come to the state due to the policies of the Vaikapa government. Many companies have canceled investment deals due to political harassment. No new ones arrived. Chandrababu said that there is a need to instill confidence in industrialists again. How many investments have come to the state in the last decade? What is the current status of concluded agreements? Condition of lands allocated for various industries? Learned the details from the officials on other matters. They were given clarity on what the industrial policy should be in the next five years. It was ordered to prepare proposals for the development of four new industrial clusters in the state near Kuppam, Moolpet, Chilamathur (Lepakshi SEZ) and Donakonda. Among them, the CM said, priority will be given to setting up electronics, pharma, food processing and hardware units.
Ideal weather
We will bring five new policies in the next 100 days. We are making new industrial policy, MSME, food processing, IT and cloud, textile policies. The best industrial policies in the country…we will adopt these to attract investments. We will create a favorable environment for investment. An industrial draft policy will be prepared in 15 days. We will take the opinions of the participating parties and formulate the final policy’, he explained. The officials were directed to formulate policies aimed at making the state a green hydrogen and green energy hub. What else did Chandrababu say in the meeting?
What has happened in the last five years is destruction
- During the tenure of our government, between 2014-19, we signed investment agreements worth Rs.16 lakh crore. Due to the way the Vaikapa government acted, the industrialists canceled those contracts. We will re-consult the industrialists who have withdrawn their investment proposals. I will talk to them directly.
- We will reduce the land rates in Mallavalli industrial area of Krishna district and encourage investment. During the tenure of our government (2014-19), we allocated Rs.16 lakh per acre to industrialists. The previous government increased the prices by Rs.90 lakh per acre. That pushed the industrial park into controversies.
- In 2014-19, 66 percent of the amount was paid under incentives. Vaikapa government gave only 34 percent. 10 thousand crores of incentives have to be paid to the industries. We will look into how to pay.
- Between 2014-19, 64 industrial parks were established and 14,125 acres were made available for industrial purposes. Vaikapa government has developed 31 parks. 1,382 acres acquired for industrial purposes were used by the previous government for housing.
Let’s run what we started
- We will speed up the projects where the construction work has already started in accordance with the MoUs. Thus, the aim is to complete the projects related to investments of Rs. lakh crore in a year. Through them we will provide employment to 1.36 lakh people.
- We will pay special attention to the bulk drug park to be set up at Nakkapally with an investment of Rs.11,542 crore, the green hydrogen hub proposed by NTPC at a cost of Rs.60 thousand crore, and the BPCL project to be set up with an investment of Rs.75 thousand crore.
