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Andhra Pradesh Chief Minister YS Jagan Mohan Reddy released the state's new industrial policy (2020-23) on Monday. (Photo Credit: AP CMO)
Andhra Pradesh Chief Minister YS Jagan Mohan Reddy released the state's new industrial policy (2020-23) on Monday. (Photo Credit: AP CMO)

Andhra CM introduces new industrial policy to help SC, ST entrepreneurs

ANI | Updated: Oct 26, 2020 17:25 IST

Amaravati (Andhra Pradesh) [India], October 26 (ANI): Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has released the state's new industrial policy (2020-23) with an aim to provide an additional push to the aspiring entrepreneurs, especially among the underprivileged communities, particularly scheduled castes (SC), scheduled tribes (ST).
"Our new industrial development policy 2020-23 launched recently is centred on balancing growth across regions and communities. I firmly believe that this new policy is a vital step towards promoting entrepreneurship amongst the marginalized for inclusive growth and development," Chief Minister Reddy said.
Under the new policy, CM Jagan on Monday launched a new program titled "Jagananna YSR Badugu Vikasam".
Minister for industries, Mekapati Goutham Reddy said, "We intend to provide additional support to the weak and marginalized and hence have come out with this special industrial policy for SC/ST 2020-23. We are also providing seed capital assistance to support entrepreneurs start-up quickly and provide incentives on power, GST, and interest to reduce operating costs and provide support."

Series of consultations were organized across the state with sectoral experts and industry associations to understand their views, challenges, and suggestions on multiple areas that opined a need for a specialized policy. Besides, the new policy will provide an added focus on strengthening pre-establishment support, improving market linkages, credit facilities, and economic development.
The state government is focused on encouraging increased participation of SC/ST entrepreneurs by providing special incentives to promote the 362 manufacturing and 9,754 service sector activities among the socially disadvantaged communities to create a more significant economic impact.
The Andhra government is also ensuring easy availability of land under the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) guidelines. The APIIC allotment guidelines will be redesigned to provide at least 16.2% and 6% of the developed land reserved for SC/ST entrepreneurs, respectively, in the industrial parks.
Moreover, the Government also proposes establishing a dedicated SC/ST entrepreneur facilitation cell under YSR AP One at all-district industrial centres for handholding SC/ST entrepreneurs for quick grounding of the projects.
The government has created a roadmap for training these entrepreneurs. Training on the sectors will be conducted through APSSDC skill colleges. (ANI)