Recently Andhra Pradesh has issued its State Industrial Policy 2023-27 covering the incentives proposed by the state with a mission to build a prosperous state. The policy brings a special incentive for SC/ST Enterpreneur under the YSR Jagananna Badugu Vikasam Scheme.
The policy aims for the following:-
- Economic Growth
- Port-led development
- Enhanced Logistical ecosystem
- Developing world-class, ready to occupy Industrial spaces
- End-to-End investor facilitation
- Employment generation
- Strengthening Employable manpower base
- Entrepreneurship development and reinforcing start-up culture
- Bringing women , minority and under privileged segments to the forefront of Economic Development process
This policy aims at improved administration from the State authorities and provides following benefits to the enterpreneur:-
- Hassle-free land- allotment of land for industrial purposes by APIIC(Andhra Pradesh Industrial Infrastructure Corporation) within a period of 21 days upon receipt of application. Land will be allotted on a lease-basis for a period of 33 years|66 years. Allottee will be provided an option to buy the land after 10 years of commercial production.
Flatted factory space at cost-pricing incentivising investment in sectors like IT, Biotechnology, Electronics, Apparels and Precision Engineering.
- Incentivising projects with economic and employment significance.
- Govt. land, including in-identified port regions, will be offered for developing industrial townships on PPP mode.
- Sector focused Model MSME parks.
- Walk to work will be promoted and facilitated to help women workers to work nearby garmenting units.
Single Desk Portal – It facilitates an ecosystem that provides all clearances required to set up an Industrial venture with in 21 working days.
I-Space , a state of the art innovation and start-up zone will be established at Vishakhapatnam which will have special incubators, co-working space and representation of angel investors and venture capitalists.
- Skill development programmes to strengthen industry ready manpower base.
- YSR AP One – The one stop resource and support program for industries.
- Promoting private industrial parks and Industrial townships on PPP mode.
- Advising, assisting and supporting MSMEs in Marketing.
The Incentives offered under the policy includes:-
- Investment Subsidy – Upto 15% of FCI + 100% reimbursement of SGST
- Interest Subsidy
- Reimbursement of Stamp Duty, Land Conversion Charges, Fixed Power Cost, IP Acquisition Cost. Technology upgradation & acquisition cost, Quality Certification Cost and Piped Water Supply
- Incentives for setting up R&D Labs
- Capital Subsidy for Transport / Logistics Sector
Read the complete policy here AP Industrial Policy 2023
