Andhra Pradesh Government encouraging investments, says Special CS Karikal Valaven

Vijayawada: The State government is working towards creating industrial zones and industrial clusters with special facilities and incentives to attract investments, said Special Chief Secretary, Industries and Commerce, Karikal Valaven.

Addressing a webinar on 'Accelerating Industrial Progress in Andhra Pradesh and Way Forward', organised by Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) here on Tuesday, he said that along the three industrial corridors of the State—Vishakapatnam-Chennai industrial corridor (VCIC), Chennai-Bengaluru industrial corridor (CBIC), Kurnool-Bengaluru industrial corridor (KBIC)—the government will develop ten industrial nodes and create transport linkages and support infrastructure with separate policies.

He also suggested that industry will be allowed to buy power from open access at competitive price and the nodes will have their own industry distribution license. CV Atchut Rao, president, OP Goenka, Karunendra S Jasti, A Satyanarayana managing committee members, and industry members from various sectors participated in the webinar.

Earlier, FAPCCI president Atchut Rao welcoming the gathering said that to have more funds for welfare schemes AP's economy need to be put on a higher economic growth path. That can only happen, if AP succeeds in attracting massive investments from the private sector. He thanked the State government for announcing Rs 1,110-crore package to support the industrial sector, especially MSMEs, battered by Covid19.

Karunendra S Jasti highlighted various issues faced by the industry such as recent proposal to link property tax to market value of the property, hike in various fees like the Pollution Control Board fee, the Fire departement consent fee and tax on sign boards which are contributing to rise in costs.

P Vijay Gopal Reddy from Ferro Alloys Association, raised some issues that are making cost of power more compared to other States. Hema Yadlavalli, president of the ladies wing of the Vishakhapatnam Chambers of Commerce and Industry, entrepreneurs Akbar Ali and Nagesh Babu, Koti Rao of AP Spinning Mills, managing committee member of FAPCCI Vitta Satish also spoke.