Amaravati: In a landmark decision, the alliance government of Andhra Pradesh has introduced a policy to develop private industry parks, marking a first in the state’s history. The Council of Ministers approved the policy on Wednesday, aiming to boost economic growth and create job opportunities. Under this policy, private entrepreneurs can establish industrial parks across the state’s 175 constituencies.
These parks will provide critical infrastructure such as storage, transportation, and suitable space, making it easier for small industries to set up and operate. This initiative, already successful in states like Kerala, is expected to attract investment and promote growth in sectors like biotechnology, aerospace, electric vehicles, pharmaceuticals, and more.
The government aims to establish the parks on fully private land, partially on government land, or entirely on government land. By offering incentives like capital cost subsidies of Rs. 3 lakh to Rs. 5 lakh per acre, the government hopes to support small industries that often struggle to acquire land. This move is also expected to boost industries in sectors like aqua processing, textiles, and drones.
