Vastavam web: AP Industries Minister Mekapati Goutham reddy ununveiled the much-awaited “Industrial Development Policy 2020-23”. The new industrial development policy lays emphasis on balancing growth across regions and communities; and is focused on reducing the cost of doing business and helping MSMEs achieve scale and improve competitiveness. Upto 2018 year AP has 70.9% its total population in the working age and this is second-highest share in India. This policy helps to drive industrialization based on the natural competitive advantages of the state such as long coastline, availability of power and water, infrastructure & connectivity.
This policy announced to support small and micro industries to grow scale of industry reforms. This policy is also announced to empower women entrepreneurs belonging to the backward communities by creating an enabling environment. Another focus area of the policy is asset creation – providing ready-built pre-cleared facilities and skill development centres which can serve as a base for the growth of the state.