A Dossier on Visakhapatnam
Minister says it aims to make State the most preferred destination
Visakha City, February 21, 2010
The Minister of Major Industries K Lakshminarayana on Sunday said the State Government would announce a new policy to encourage medium, small and micro enterprises sector. Speaking at a the valedictory of the two day vendor development programme cum industrial exhibition conducted by the MSME Development Institute, Hyderabad, he said the policy formulated for the MSME sector would offer investment subsidies, reduce taxes and duties and other burdens like stamp duty.
The Minister said that the government had already identified sunrise industries like food processing, biotechnology, pharmaceuticals, electronics, software, textiles, leather and knowledge industry for further growth. He said that the growth of industrial sector in Andhra Pradesh over the past decade had been phenomenal.
As per the report released by ASSOCHAM, Andhra Pradesh stood third in the country in terms of attracting investments during 2009. Stating that the emerging sectors like aerospace, automobile and biotechnology sectors had vast scope for growth and said rapid strides had already been made in IT and Pharmaceutical sectors.
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