The prospect of industrial development in Andhra Pradesh appears to be bright owing to its location in the East Coast Economic Corridor (ECEC) for which Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) have committed major investments.
The ECEC links Kolkata with Chennai and Tuticorin encompassing the Visakhapatnam-Chennai corridor which is on top of the agenda of both the Central and State governments. The ADB and JICA have evinced interest in infrastructure projects in AP, mainly on the string of seaports that dot the nearly 1,000 km-long coastline.
What is going to make things easier is the establishment of a Maritime Board, the modalities of which are being worked out by the State government. Industries Department Principal Secretary J.S.V. Prasad has stated in his address at a recent CII event that the government was keen on setting up a Maritime Board to facilitate development of ports and taking other industry-friendly measures like making the procedures for obtaining clearances simpler and giving incentives.
According to sources, the ADB has already given its ‘inception report’ on the ECEC to the Centre and the ‘conceptual development plan’ of Visakhapatnam-Chennai corridor is ready for submission early next month.
Confederation of Indian Industry (CII), AP, Chairman Suresh Chitturi told The Hindu that the government was keen on stimulating industrial development across the coast and asserted that Krishna-Godavari-Prakasam-Guntur (KGPG) area the potential of which was studied by the CII well before the process of bifurcation began was poised for rapid growth.
On its part, the CIIwas trying to garner investments into the State . Most of them were waiting for the new industrial policy to be announced with due focus on making the single window scheme an effective instrument in the larger framework.
