Today's Paper

New policy to give a leg-up to MSMEs

The A.P. Industrial Development Policy 2020-23 is set to be unveiled by Minister for Industries Mekapati Goutham Reddy and A.P. Industrial Infrastructure Corporation chairperson R.K. Roja in the APIIC headquarters at Mangalagiri on August 10 (Monday). The new policy will lay emphasis on pharmaceuticals, textiles, automobiles, electronics, petrochemicals, aerospace and defence, food processing, machinery and precision equipment, leather and footwear and toys and furniture sectors.

According to sources, due priority has been given to reducing the risk and cost of doing business, supporting MSMEs and empowerment of women entrepreneurs belonging to the backward communities in the new policy.

It has laid down a roadmap for interventions in the areas of infrastructure, ease of doing business (EoDB), honing skills, labour availability and hand-holding of entrepreneurs. On the infrastructure front, the new policy envisages a risk-free mechanism for setting up industries and mitigating their possible impact on the environment, development of plug-and-play parks and common facilities for reducing the costs for MSMEs and provision of pre-cleared land parcels.

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