The Hindu : Andhra Pradesh News : New industrial policy soon

Online edition of India's National Newspaper
Wednesday, Nov 03, 2004

Andhra Pradesh

Andhra Pradesh

New industrial policy soon

By Our Staff Reporter

HYDERABAD, NOV.2. The State Government will come out with a new industrial policy to make AP an attractive investment destination. The policy envisages cutting down power costs to the industrial sector, making the tariff lowest in the country.

The Major Industries Minister, B. Satyanarayana, told a function got up to celebrate Small-Scale Industries Day-2004 here on Tuesday that the Government's aim was to develop all sectors and not just agriculture. The new policy would make investors come to the State.

280 units identified

Referring to the revival of the SSI sector, he said the expert panel set up by the Government had identified 280 units for revival. "We will come out with a comprehensive revival scheme."

Referring to the high interest rates charged by the AP State Financial Corporation for the SSI loans, he said the Government had directed to it to give loans at 10 per cent. "We will subsidise the remaining amount," he said.

The Minister appreciated the Association of Lady Entrepreneurs of AP for taking initiative to launch a credit guarantee scheme for women, and stated that the Government planned to expand the scheme to rest of the State.

Industrial parks

On exclusive industrial parks for women, Mr. Satyanarayana said such parks would be set up in major cities. Visakhapatnam, Guntur and Tirupati would be the immediate locations.

Earlier, he presented "Pearls of Andhra Pradesh" and "PMRY Awards" to some SSI entrepreneurs. M. Prakasham (Manchukonda Prakasham and Company of Gudur) won the first best "Pearl of AP" Award.

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