New Industrial Policy Will Be Announced Soon

Amaravati: The State government would soon roll out a new industrial policy with clear cut announcement on industrial incentives to be given to those willing to set up their firms in Andhra Pradesh, Industries Minister Mekapati Gowtham Reddy said.
Speaking to press persons here on Tuesday, he said requests were sent out to industries to wait until the new policy was announced so as to ensure that the State government doesn’t have to renege on any of the promises it would make to the industrialists.
The Minister said that the Opposition was carrying out a misinformation campaign by spreading rumuors that investments were going out of the State. "Those who are against investments coming to the State are spreading these rumuors. But the fact is that in the last two months APIIC has received 800 applications from different industries wanting to set up their shops in the State," he added. He clarified that the delay in announcing the policy was only due to make it concrete, robust and effective.
He hit out at the TDP alleging that the past government had kept the payment of Rs 2,500 crore incentives to the industries pending. "Who will pay these? The industrialists are unhappy over the past policy. So, we are bringing a new policy to attract more investments into the State," he added.