Nation Current Affairs 21 Aug 2019 Vijayawada: New indu ...

Vijayawada: New industrial policy soon

DECCAN CHRONICLE.
Published Aug 21, 2019, 2:52 am IST
Updated Aug 21, 2019, 2:52 am IST
The minister also said that investor friendly industrial policy is being prepared and will be released in two to three months.
IT and industries minister Mekapati Gowtham Reddy
 IT and industries minister Mekapati Gowtham Reddy

VIJAYAWADA: IT and industries minister Mekapati Gowtham Reddy condemned the propaganda by Opposition parties that investors are rethinking about investing in Andhra Pradesh.

Talking to mediapersons here on Tuesday, the minister said that no investor is going back from the state and the government is poised to attract more investments with corruption-free and transparent governance.

 

He also added that industrialists are also confident about the leadership of Chief Minister Y.S. Jagan Mohan Reddy. He also said that within two months after the new government has been formed, APIIC had received around 800 applications to set up industries in the state.

The minister also said that investor friendly industrial policy is being prepared and will be released in two to three months. He added that due to the faulty industrial policies of the previous government, the Industries Department had piled up debts worth Rs 2,500 crore. Mr Reddy said that there will be no secret deals with the investors and industrialists in the present government.  

He also said that new guidelines will be issued after both the industries and Finance Ministries review the industrial incentives.

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