HNIs, NRIs wait for A.P.’s industrial policy

April 01, 2015 12:00 am | Updated 05:53 am IST - VIJAYAWADA:

The High Networth Individuals (HNIs) and Non-Resident Indians (NRIs) in Singapore are forced to postpone their investment plans in the capital region of Andhra Pradesh as the State is yet to come up with an industrial policy.

Lack of industrial policy apparently has come as a surprise for the HNIs interested in investing in A.P. “We were given a vision -2029 of A.P. which included seven missions, five grids and four programmes which was inspiring. But we were eagerly waiting for a detailed industrial policy with expected sops and facilities so that a proper business plan and an investment decisions can be made. We were told the policy is in a formative stage,” said a HNI who took part in a meeting with Chief Minister N. Chandrababu Naidu and other officials in Singapore.

The NRIs too are in wait and watch mode to plan their investments in AP. “In his last visit, CM Mr. Naidu asked us to become entrepreneurs in AP. We are ready to explore and waiting for the State government to suggest concrete avenues,” said an NRI who has roots in AP.

However, the State government is apparently constrained from announcing the industrial policy owing to delay in according special status to A.P. by the Centre.

“Everything is linked to special status as it is expected to bring in several sops and concessions to the industry. The State government is trying its best for special status and expedite release of the policy to boost investments,” said a senior official from department of industries.

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