The Hindu : Andhra Pradesh / Hyderabad News : More sops in new industrial policy soon

Online edition of India's National Newspaper
Monday, Mar 01, 2010
ePaper | Mobile/PDA Version

Andhra Pradesh

Andhra Pradesh - Hyderabad

More sops in new industrial policy soon

More sops in new industrial policy soon

HYDERABAD: The government is planning to announce more sops for industries coming up in backward districts under a new industrial policy to be announced shortly.

A press release from the Chief Minister’s Office said on Sunday that the State was all geared up to attract huge industrial investments. Accordingly, the government planned to categorise districts on the basis of their industrial development, offering attractive incentives/concessions to investors/industrialists for setting up units in backward areas.

Textile policy

Chief Minister K. Rosaiah told some industrialists who called on him at his residence that given the huge potential for cotton crop in the State, the government was contemplating a special textile policy to promote more spinning and weaving mills so as to make use of the cotton stocks.

Principal Secretary (Industries) Sam Bob was present. He thanked investors and industrialists, particularly the multinational IT companies, for reposing faith in the steps taken by the government to provide security to the units.

In spite of the recent disturbances, Andhra Pradesh continued to be well ahead in industrialisation and economic development, he said, calling upon entrepreneurs to invest in the State “the land of innumerable opportunities”.

The Chief Minister said five major factors — Hyderabad International Airport being ranked the world’s best in its category, ISB among the top-12 business schools, World Bank rating for Hyderabad, Reserve Bank of India report which ranked AP as the second best investment destination and the proposed new rail lines — would help the State in attracting investments.

“We are the first among the best in many sectors. The economic position of the State is sound. Hence don’t miss the bus,” he said.

The Chief Minister suggested to Major Industries Minister Kanna Lakshminarayana over telephone to study the impact of the new industrial policy before announcing it, keeping in view employment generation.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh