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AP Aims for Development Through Port-Based Industries, Says Chandrababu Naidu
Andhra Pradesh Chief Minister Nara Chandrababu Naidu emphasised the state’s commitment to development by focusing on port-based industries. Despite signing 227 Memorandums of Understanding (MoUs) over the last five years, he expressed concern that actual investments have not materialised as expected.
Andhra Pradesh Chief Minister Nara Chandrababu Naidu emphasised the state’s commitment to development by focusing on port-based industries. Despite signing 227 Memorandums of Understanding (MoUs) over the last five years, he expressed concern that actual investments have not materialised as expected.
Criticizing the lack of incentives for industries in conjunction with loans provided, CM Naidu recalled a time before 1995 when investments were stifled due to the "license raj." He pointed out that economic reforms made it possible for the IT sector to thrive in Andhra Pradesh, with one out of every four IT professionals hailing from the state.
“Our government has implemented policies that aim to position India as the number one country by 2047, and we want Andhra Pradesh to be a leader within that framework,” CM Naidu stated, highlighting a priority target of creating 20 lakh jobs for the youth. He mentioned a shift in policy from “Ease of Doing Business” to “Speed of Doing Business,” focusing on reducing production costs and enhancing branding efforts to empower entrepreneurship within families.
Furthermore, CM Naidu announced plans to establish a special system to ensure investment projects commence on schedule, alongside real-time permit and self-certification processes. His administration aims to bolster the growth of micro, small, and medium enterprises.
Stressing the goal of transforming Andhra Pradesh into a global manufacturing hub, the chief minister revealed that the government has meticulously studied industrial development policies from other states. The Andhra Pradesh state government aims to implement policies lasting until 2024-2029, with an investment target of 30 lakh crore rupees, creating employment opportunities for 20 lakh individuals. Additionally, the chief minister mentioned a strategy to attract foreign investments totaling 83 thousand crores.
In a bid to lay the foundation for future growth, the CM announced plans to establish an industrial park in each of the 175 constituencies. He also referenced the past initiative of setting up engineering colleges in every revenue division to ensure a steady supply of skilled professionals.
CM Naidu reiterated that the overarching goal of any policy is to create employment opportunities for the youth of Andhra Pradesh.
