Industrial policy to be investor-friendly

The policy, first after bifurcation, will try to increase revenue substantially. As per the white paper released by the government on industries, infrastructure and employment, the focus will be on marine-based development by tapping the potential of nearly 1,000-km-long coastline, the second largest after Gujarat.

The New Industrial Policy being formulated by the Andhra Pradesh government, the first after bifurcation, will try to increase revenue substantially by adopting an investor-friendly approach.

Removal of bottlenecks in clearances by introducing single window, appointment of nodal officers in each district and constitution of a high-power committee for fast-track clearance of mega projects are some of the highlights of the new policy. PCPIR, which envisages investment of Rs.3.43 lakh crore, will be given the much-needed booster dose.

“Revenue and APIIC officials have been directed to prepare a land map. This will smoothen the process where to locate which industry,” Industries Commissioner Rajat Kumar said after an interaction with investors at a meeting organised by Visakhapatnam zone of CII.

“The feedback at the interactive session is quite encouraging. It is the first in the series. We expect more clarity on package promised by the Centre to woo investors. We also want time-bound refund of sales tax and other reimbursements or their adjustment against other taxes due from us,” former zonal chairman of CII and Executive Director of Steel Exchange India Ltd K.V. Bhaskar told The Hindu on Friday.

As per the white paper released by the government on industries, infrastructure and employment, the focus will be on marine-based development by tapping the potential of nearly 1,000-km-long coastline, the second largest after Gujarat. A Maritime Board is expected to be formed soon to ensure sustainable development.

Gateway port

For accelerating maritime based development, Visakhapatnam Port will be developed as a gateway port by encouraging container cargo. Mr. Rajat Kumar gave enough indications that Visakhapatnam-Chennai Industrial Corridor would include a dedicated freight corridor as a supplementary from Delhi to Visakhapatnam via Bhopal to divert cargo going to China to Visakhapatnam Port.

Chief Minister N. Chandrababu Naidu has already announced that AP would be showcased as the ‘Sunrise Country,’ its USP on the lines of Kerala’s ‘God’s Own Country.’

Some of the thrust areas in the policy include IT, fisheries, tourism, textiles, food parks, biotechnology, livestock and horticulture.