Major Industries Minister J. Geeta Reddy on Monday sought to allay the fears of industrialists about protection and safety of their properties in the aftermath of the State’s bifurcation and assured that industry-friendly policies would be continued by the administrations in both the regions.
Representatives from CII, FICCI and FAPCCI had an interactive meeting with Ms. Reddy where the former expressed concerns on various issues and sought an assurance from the government.
Addressing a press conference along with Ashok Reddy, Chairman CII of AP Chapter, she said the industrialists raised issues relating to power, water, law and order, educational institutions and sick industries, among others. She announced that in Telangana, a bulk drugs inland container depot would be established for facilitating exports.
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Observing that both the States would have Congress governments, post-bifurcation of Andhra Pradesh, she said the allocation of assets between the two States would be done according to well-established norms and all local requirements would be taken into consideration. Based on terms of reference prepared by the Central government, experts from State and Centre would carry out the division of assets in the most optimal manner.
Dr. Geeta Reddy assured that there would be no forced relocation either of their facilities or employees and told the investors that their investments would be safe.
“I appreciate your hard work and the responsibility of protecting your properties and your employees is with the government,” she told them. The service sector probably reached its potential and future economic growth would be fuelled by manufacturing.
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“It will be the responsibility of the government to encourage the manufacturing sector,” she said.
Unique incentives
She said that all incentives, benefits and facilities offered previously by way of government orders or MoUs would remain valid regardless of where the investment was located.
The Major Industries Minister said that it would also be possible to provide unique incentives for specific investment activities.
Referring to the cosmopolitan nature of Hyderabad with people from all over India finding employment here from the times of Nizam, she expressed confidence that it would continue to remain the same.
‘No power shortage’
On power, Dr. Reddy admitted that there would be power shortage post-bifurcation and the experts committee would address the issue.
Mr. Ashok Reddy said they raised concerns about safety of business and employees. He said there was still ambiguity about Hyderabad city too.