3 weeks ago
MSMEs Welcome Andhra Pradesh's Proposed Associations-Led Industrial Parks Policy
In the Indian state of Andhra Pradesh, people who run small and medium businesses are happy about a new government idea.
The idea lets business groups work together to build special areas called industrial parks, where factories can be set up.
Right now, each business group can get between 10 and 100 acres of land for such parks.
The groups want more land, between 100 and 500 acres, so they can build bigger parks.
The government is talking with these business groups to write the new policy, and their first meeting happened over video.
One big business group said 170 people have already applied to build modern SME parks.
The state has already signed three agreements to develop 500 acres of land in the Tirupati area.
This project will cost about 2,000 crore rupees and create 8,000 jobs.
Business leaders say this new policy could be a game changer for jobs and growth in Andhra Pradesh.
MSME industrial associations welcomed the Andhra Pradesh government's proposed 'Associations-Led Industrial Parks' policy.
Associations sought enhanced land allotments of 100 to 500 acres, up from the current norm of 10 to 100 acres.
The state government held its first virtual consultation meeting with MSME industrial association stakeholders.
The Federation of Small and Medium Enterprises of India has received 170 applications from entrepreneurs to develop SME parks at international standards.
Three MoUs were executed for developing 500 acres at Roughsuramala in Tirupati district, with an investment of ₹2,000 crore expected to create 8,000 direct jobs.
- Who
- Micro, small and medium enterprises (MSMEs) in Andhra Pradesh, their industrial associations, and the state government.
- What
- MSMEs welcomed the proposed 'Associations-Led Industrial Parks' policy and requested larger land allotments of 100 to 500 acres instead of the current 10 to 100 acres.
- Where
- Andhra Pradesh, India, particularly Tirupati district (including Sri City and Roughsuramala); reported from Vijayawada.
- When
- Recently; the first stakeholder consultation meeting was held virtually a few days before the report.
- Why
- To accelerate industrialisation, promote balanced regional development, attract investment, generate employment, and reduce dependence on ancillary supplies from other states.
Key facts
- Proposed policy
- Associations-Led Industrial Parks
- Current land allotment norm
- 10 to 100 acres
- Requested land allotment
- 100 to 500 acres
- Consultation status
- First stakeholder meeting held virtually
- Entrepreneur applications
- 170 received by Federation of Small and Medium Enterprises of India
- MoUs executed
- 3, for 500 acres at Roughsuramala, Tirupati district
- Investment
- ₹2,000 crore
- Expected direct employment
- 8,000 persons
Quotes
APK Reddy
President of the Federation of Small and Medium Enterprises
“We welcome the proposed policy giving more thrust to the associations to set up industrial parks and it will serve as a game changer for industrial promotion, economic growth and employment generation in AP.”
deccanchronicle.com
Sources
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