Vijayawada: Chief minister Nara Chandrababu Naidu underscored the importance of industrial and IT sector development for the overall progress of the state. He said that industrial development will propel the state forward on the path of progress.
“All sectors must grow together. The industrial sector’s growth rate must increase from 6.57% to 16%, the environment sector to 18%, and the construction sector to 10%,” he stressed.
Speaking at the ministers and secretaries conclave here on Tuesday, the chief minister charged that industrial growth in the state had completely stagnated during the previous regime. He explained that they have set things on track soon after taking the reins through Speed of Doing Business reforms. “We are providing significant incentives for industrial development. The establishment of industries will lead to employment opportunities and economic growth for the state. Through the Ratan Tata Innovation Hub, Visakhapatnam, Rajahmundry, Anantapur, and Tirupati are being developed into major industrial hubs,” he said. He announced the setting up of a Logistics Corporation to develop ports and airports. IT, electronics, and communications secretary Katamaneni Bhaskar explained their ambitious plans to reshape the IT sector through the “4-Policy” framework. He said that an MoU with HDFC has been signed to support startups, and plans are in place to attract 40,000 crore in investments and generate lakhs of jobs by 2029. Industries secretary Yuvaraj said that they were working towards establishing 175 industrial parks across all constituencies and setting up plug-and-play industrial parks with 2,500 crore. Efforts are also underway to secure 2,000 crore from the Union govt under PM-Kisan Yojana.
He said that they have accelerated work on major projects, including Ramayapatnam Port, which is 52.91% complete, Machilipatnam Port at 31%, Mulapeta Port at 32%, and Kakinada Gateway Port at 24%. He said that the Bhogapuram Airport is set to be completed by March 2026 and will be named after Alluri Sitarama Raju. A 300-acre Drone City is also being developed to promote innovation in drone technology.
“All sectors must grow together. The industrial sector’s growth rate must increase from 6.57% to 16%, the environment sector to 18%, and the construction sector to 10%,” he stressed.
Speaking at the ministers and secretaries conclave here on Tuesday, the chief minister charged that industrial growth in the state had completely stagnated during the previous regime. He explained that they have set things on track soon after taking the reins through Speed of Doing Business reforms. “We are providing significant incentives for industrial development. The establishment of industries will lead to employment opportunities and economic growth for the state. Through the Ratan Tata Innovation Hub, Visakhapatnam, Rajahmundry, Anantapur, and Tirupati are being developed into major industrial hubs,” he said. He announced the setting up of a Logistics Corporation to develop ports and airports. IT, electronics, and communications secretary Katamaneni Bhaskar explained their ambitious plans to reshape the IT sector through the “4-Policy” framework. He said that an MoU with HDFC has been signed to support startups, and plans are in place to attract 40,000 crore in investments and generate lakhs of jobs by 2029. Industries secretary Yuvaraj said that they were working towards establishing 175 industrial parks across all constituencies and setting up plug-and-play industrial parks with 2,500 crore. Efforts are also underway to secure 2,000 crore from the Union govt under PM-Kisan Yojana.
He said that they have accelerated work on major projects, including Ramayapatnam Port, which is 52.91% complete, Machilipatnam Port at 31%, Mulapeta Port at 32%, and Kakinada Gateway Port at 24%. He said that the Bhogapuram Airport is set to be completed by March 2026 and will be named after Alluri Sitarama Raju. A 300-acre Drone City is also being developed to promote innovation in drone technology.
