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Andhra Pradesh
Minister upbeat over State’s industrial growth
Special Correspondent
Growth rate of industries stands at 7.65 p.c. New industries provide jobs to 10,000 people
HYDERABAD: Major Industries Minister J. Geetha Reddy has attributed the State’s low industrial growth at 7.65 per cent for the first six months of this fiscal (compared to the national average of 9.83 per cent), to the long gestation period normally taken by industries. New industries, especially manufacturing units, take at least two years to . Moreover, industries were ignored to such an extent during the previous regime that their growth rate stagnated at 6 per cent till the present Government gave it a fillip through initiatives like subsidised power supply. As a result, the growth rate had improved to 7.65 per cent. Also, there was delay in establishing (non-IT based) industries as the Government had fixed targets for providing employment to illiterate and semi-literate people. At a press conference here on Friday, she said new industries like Brandix, Apache and Hyderabad Gems & Jewellery have alone provided jobs to 10,000 people.
She expressed confidence that the State would soon reach the national average following a huge investment of Rs. 10,500 crore.
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