Andhra Pradesh Government will soon announce new Industrial policy for next five years to attract global investments.
“The industrial policy will utilise the inherent advantages of the State economy and will give a direction to the future growth of the manufacturing sector in line with the vision of the Chief Minister,” a senior official told businessline.
Special thrust
The new industrial policy will be unveiled for a period of five years from 2024-29 with an aim to compete with the top five states in the country. Pharma, automobiles, mining and energy, and shipping are likely to be given a special thrust by the State Government in the upcoming policy.
Chief Minister N Chandrababu Naidu has been working on the new policies with senior officials to fast-track the development in the State. He has already held a series of review meetings for the policy overhaul.
Liqour policy
The Government is also planning to reduce the current liquor prices as it feels that the ‘unusaly high liquor prices’ and flooding of markets with ‘low’ quality local liquor brands by the previous government is one of the reasons from driving the poor and youngsters to other more dangerous intoxicants like ganja and the drugs.
Many IMFL brands of liquor, which were not available in the state due the policy of the previous YSR Congress Party Government, are likely to be allowed in the State in the upcoming policy.