Visakhapatnam, Mar 28 (KNN) The Industries Minister of Andhra Pradesh Gudivada Amarnath on Monday launched the new industrial policy 2023-27 which is called an investor friendly policy.

Although the existing policy’s term is to be completed, the Minister said the YSRCP government is putting aside the practice of many governments taking long gaps in announcing new policies even after the existing policy term was completed.

Indicating the commitment of Chief Minister YS Jagan Mohan Reddy towards Industrial Development and employment generation, he released the new industrial policy which focuses on Low-Cost – Low-Risk businesses and also launched YSR AP One on Monday.

He said that CM Reddy gave priority to many sectors that were neglected by the previous governments.

To speed the process for setting up of industries in 21 days, the state government has introduced YSR AP One App and its office would be in Vizag.

“The state government would set up sub-centers in district Industries centers also. Land allotment for the investors would be given in 21 days. YSRCP government would give priority to the OBC, SC, ST, Minority, and women in the industrial sector. State government targeted to extend industries in three lakh acres,” he said.

He further added that the CM is planning to set up New Industrial Park under a public-private partnership (PPP).

Apart from this, more funds would be allotted to enhance start-up culture, MSME parks development, and Iconic Tower – I Space, would be constructed to encourage the innovation sector.  (KNN Bureau)