Hyderabad
Andhra Pradesh will soon come out with a new industrial policy that would focus on encouraging start-ups and port-based industries, chief minister Y S Jagan Mohan Reddy said on Monday.
The chief minister had an initial review meeting with senior officials of the industries department on the formulation of new industrial policy ahead of the Global Investors’ Summit (GIS) at Visakhapatnam on March 3 and 4.
An official release from the chief minister’s office said Jagan had directed the officials to formulate the new industrial policy in such a way that it should handhold the entrepreneurs from conceptualisation to commissioning to marketing their products.
He asked them to give importance to marketing of the products and the necessary tie-up at the international level.
The chief minister instructed the officials to build a special facility in an area of 300,000 square feet in a main location in Visakhapatnam to cater to the needs of start-ups and suggested that it should also house the office of the industries department.
While giving top priority to encourage start-ups, it is also necessary to pay attention to provide basic infrastructure to meet the demands of port-based industries, the chief minister told the officials. The new industrial policy should be formulated keeping in mind all the above points, he said.
Jagan directed that the micro, small and medium enterprises (MSMEs) have to face tough competition in the world and the only way they could succeed was by having y tie-ups with international companies and agencies.
“The official machinery should assist the entrepreneurs from the formulation of the concept to commissioning of the industry to the marketing of their products,” the chief minister said.
Asserting that the new industrial policy as a whole should meet these demands of the entrepreneurs, he said that the MSME policy in particular should advise, assist and be supportive to the start-ups in every respect.
Special chief secretary (industries and commerce) R Karikal Valaven, finance secretaries KVV Satyanarayana and Guljar, and other officials were present at the meeting.
