AP Inc upbeat on new policy push

Visakhapatnam: Captains of industry, management consultants and others have hailed the six policy frameworks approved by the Andhra Pradesh Cabinet to improve investor-friendly climate with a target to attract an investment of Rs30,000 crore in manufacturing, FDI to the tune of Rs83,000 crore from 500-Fortune companies to set up shops in the State, establish 175 industrial parks with an export potential of Rs33,200 crore and create 2.2 million MSME entrepreneurs.

Hailing the policy frameworks released by Chief Minister N Chandrababu Naidu as the right decision at the right time to make AP an ideal investment destination, many told Bizz Buzz, when their opinion was solicited, that decisions like offering 10 per cent additional incentives for those creating jobs and 6 per cent for contribution to reduce carbon footprint will provide the much-needed booster dose to take the State on the forward march with at least 15 per cent growth rate.

CII Visakhapatnam Zone Chairman Grandhi Rajesh told Bizz Buzz that “the New Industrial Policy sets a transformative vision for AP. As factories are evolving into highly intelligent, hyperconnected systems, emphasis on advanced technologies like AI, IoT, and Industry 4.0, are crucial in shaping the future paving the way for a future-ready industrial ecosystem, positioning Andhra Pradesh at the forefront of innovation and competitiveness”.

He said it is quite encouraging to see the focus on MSME and the entrepreneurial sector, with dedicated support for innovation hubs and product perfection. Initiatives like ‘One Family, One Entrepreneur’, and ‘Ratan Tata Innovation Hub’ will foster grassroots innovation and contribute to inclusive growth.

Rajesh said, “The AP industrial policy is unique with a first of its kind de-carbon subsidy for green industries. This will be a game changer as domestic firms can now compete effectively against international players. This is a critical step in aligning with global climate goals while ensuring industrial growth remains responsible and future-oriented. The competitive incentive structure, combined with the ‘Speed of Doing Business’ interventions, will significantly reduce operational hurdles for businesses.”

He said creating 5 lakh new jobs through skill development in emerging sectors like electric vehicles and manufacturing is critical for long-term economic sustainability. Indian bio-economy presently is valued over $140 billion and targeted to reach $150 billion by 2025 and $300 billion by 2030. With a strong presence of pharma cluster, Vizag is well-placed to leverage India’s leadership in the global bioeconomy. The establishment of Biotech Park in Visakhapatnam will propel innovation to meet the growing global and domestic demand for biopharma products and vaccines”.

Rajesh, who is into logistics and realty business, said: “The guiding principles of ‘Swarna Andhra 2047’ create a clear roadmap of transforming AP into a globally attractive manufacturing hub. This policy is not only about today, but about positioning the state as a leader in industrial innovation and sustainability over the coming decades.”

Visakhapatnam Stevedores’ Association (VBA) president and entrepreneur in logistics field G Sambasiva Rao described as a great initiative to allow private industrial parks in 10 to 100 acres and mega industrial parks in 100 acres to provide a lot of employment opportunities. He said the government is willing to provide road, water and electricity to the parks at their costs with some incentives regarding land conversion charges.

“By this genuine entrepreneurs will purchase the lands and do business. Government allowing 175 parks and also needs to develop more parks near port cities like Visakhapatnam, Kakinada and upcoming ports at Machilipatnam, Ramayapatnam and Mulapeta,” he said.

Vizag Development Forum vice-president and CEO of Symbiosys Technologies O Naresh Kumar said incentivisation to encourage genuine entrepreneurs is the right step to boost the State’s economy and to create 20 lakh jobs in next five years. “Going by past experience, the promised incentives should be paid on time with an initiative to clear the dues which accumulated in the past,” he pointed out.