New AP industrial policy focuses on low-risk business

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Industries minister Gudivada Amarnath on Monday released the government’s new Industrial Policy to attract more investments into the state.

The new policy focuses on low-cost, low-risk businesses. More funds will be allotted to enhance start-up culture and development of Micro, Small and Medium enterprises (MSME) parks in the state. As per the new policy, the 96 clearances mandatory for setting up

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new industries would be issued in 21 days. To meet this objective, the government unveiled YSR AP One App and its office will be in Visakhapatnam, said the minister.
He said the new industrial policy showcased the state’s financial Growth.

The new policy has accorded Industry status. An iconic tower, I Space, will be constructed to encourage innovation sector. The walk-to-work in IT sector will bring in other industries, said the minister.