Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday said the TDP-led NDA government will extend additional incentives to industries that invest in backward regions.
During a State Investment Promotion Board (SIPB) meeting, the Chief Minister emphasised that establishing industries would spur development in those regions, create employment for locals, and thereby 'distribute prosperity across the state'.
"Additional incentives would be provided to industries and projects that invest in the state's backward regions," said an official press release quoting the CM.
Further, the SIPB, chaired by the CM, approved 19 projects worth Rs 28,270 crore, which are expected to generate jobs for 30,270 people.
Approved projects include Raymond (Rs 1,201 crore), Reliance Consumer Products (Rs 1,622 crore), Adani Renewable Energy Fifty One Ltd (Rs 8,010 crore), Adani Hydro Energy Four Ltd & Adani Hydro Energy One Ltd (Rs 10,900 crore) and Chinta Green Energy Pvt Ltd (Rs 2,323 crore), among others.
So far, across the seven SIPB meetings, approvals were accorded to investments totalling over Rs 5.3 lakh crore with the potential to create jobs for nearly five lakh people, said the press release.
According to the CM, locals should receive the majority of jobs in the upcoming industrial projects across the state.
Therefore, skill development for youth should be treated as a core policy objective, he said, adding that a plan is in the works to ensure that incoming investments are distributed evenly across the state.
Naidu said tourism, IT, and food processing industries should become key drivers of development, proposing to develop boat tourism projects near Papikondalu along with the Polavaram Project.
Likewise, he instructed officials to explore operating luxury boats and cruise ships in Visakhapatnam and other coastal areas of the state in collaboration with interested companies.
Going forward, he suggested that at least two SIPB meetings should be conducted every month, with the target of holding at least 25 meetings annually.
