Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday announced six “game changer” policies in various sectors, including industries, MSMEs and food processing with an objective to create 20 lakh jobs in the state and said his government was looking at attracting Rs 30 lakh crore investment in next five years.
Naidu said the state is also hoping to get USD 10 billion Foreign Direct Investments.
He further said the Gross Value Addition (GVA) from the manufacturing sector which is pegged at Rs 3.4 lakh crore in 2024, would be taken to Rs 7.3 lakh crore by 2029, creating five lakh new jobs.
Explaining the key initiatives in the policies, Naidu said the state is hoping to realise Rs 5 lakh crore out of the targeted Rs 30 lakh crore investment.
He also said the exports from the state would be doubled to USD 40 billion from the existing USD 20 billion in 2024.
The chief minister announced the six policies as AP Industrial Development Policy 4.0, AP MSME & Entrepreneurship Development Policy 4.0, AP Food Processing Policy 4.0, AP Electronics Policy 4.0, AP Industrial Park Policy 4.0 and AP Integrated Clean Energy Policy 4.0.
“At a time we brought six policies. We exercised a lot on these six policies (and) we said only one thing in the polls (that creating) 20 lakh jobs is the goal of this government and we will work (towards it),” said Naidu, addressing a press conference at the Secretariat, following a Cabinet meeting.
The CM observed that there is a need to bring some more new policies for sectors such as tourism, IT, virtual working and others and promised to bring them soon.
Aimed at creating 20 lakh jobs in five years, the CM noted that a framework is being ushered in by giving primacy to job creation in every policy.
Noting that these policies are targeted at the youth of the state to think globally and act globally, he said the objective is also to produce one entrepreneur per family.
According to the CM, these six policies will bring a sea change for the future of the state as well as its youth.
Further, he noted that the proposed Ratan Tata Innovation Hub will have its main centre in Amaravati and five regional centres at Vizag, Rajamundry, Vijayawada or Guntur, Tirupati and Anantapur.
Exuding confidence that Andhra Pradesh will become an innovation hub for the knowledge economy, the chief minister said all the five centres will be under Ratan Tata’s name.
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