A.P. is one of the few States that introduced sector-specific industrial policies: MSME Minister

Minister for Micro, Small & Medium Enterprises (MSMEs) Kondapalli Srinivas said Andhra Pradesh (AP) was one of the few States that introduced sector-specific policies and incentives. The State has tremendous opportunities that should be explored, he told the prospective entrepreneurs.

Speaking at the Engineering Export Promotion Council of India (EEPC)’s Southern Regional Awards function here Monday (August 25) evening, Mr. Srinivas said A.P. was the only State that has three industrial corridors and the A.P. Industrial Development Policy 4.0, A.P. MSME & Entrepreneur Development Policy 4.0 and A.P. Food Processing Policy 4.0 provide a robust framework for doing business. 

These policies were key milestones in the State’s transformation into an industrial powerhouse, he asserted, congratulating the winners of the EEPC’s 46th and 47th Southern Regional Awards. Hyundai Motor India, TVS Motor Company, IGP Engineers Pvt Ltd, Mira Alloy Steels Pvt Ltd, BEML Ltd, AE Automotion Pvt Ltd, Luwa India Pvt Ltd, Goodrich Gasket Pvt Ltd, Tractors and Farm Equipment Pvt Ltd, Maini Precision Products Ltd and Volta Impex Pvt Ltd were among the award winners.

Close to 100 companies have been recognised by EEPC for their stellar performance in engineering exports during 2021 - 22 and 2022 - 23 across various categories.

In a video message, Civil Supplies Minister Nadendla Manohar said A.P. was the first State to launch the Single Window Clearance system for industries. Anchored by cities like Visakhapatnam, Vijayawada and Tirupati, AP’s industrial ecosystem has emerged as a beacon for high-value manufacturing, precision engineering and advanced technology.  EEPC Vice-Chairman Aakash Shah said the Southern States contribute to over 33% of the country’s shipments.

The imposition of a slew of tariffs by the US was a serious setback for Indian exporters, and the policies of European Union nations have also been troubling, he noted. EEPC Southern Regional Chairman Raman Raghu delivered the welcome address.