'AP to be most favoured destination for investors'

Hyderabad, July 27: Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today said he was determined to continue with efforts to project the state as the most favoured destination for domestic and foreign investment for creation of employment opportunities.

Addressing the captains of the Indian industry at the National Executive Committee meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) here, Dr Reddy said employment was one of the major indicators of the economy's health.

It was government's endeavour to generate employment for its citizens by promoting industries by laying special emphasis on employment intensive sectors such as textiles, leather, gems and jewellery besides IT and ITeS.

The government was also keen on creating infrastructure to fully realise the state's potential.

Andhra Pradesh would also build a natural gas pipeline network across the state to supply gas from the Krishna-Godavari Basin to meet the needs of existing and new industries besides domestic consumers.

Due to investor-friendly policy, the state was able to attract more industries. The government was also providing several incentives to those putting their money in the state.

Dr Reddy underlined the need for encouraging food processing industry to generate more employment and improve the rural economy. The government had been providing incentives for the food processing units in the state with lesser power tariff. Stating that the skilled manpower in the Industrial Training Institute (ITI) level need to be improved, he said the government had taken up several programmes for the youth at the lower level to improve their skills through training programmes.

He called upon the domestic industrialists and the NRIs to come forward to establish English medium rural public schools with public-private participation to provide best education and improve the talent of the rural people.

The government would provide 50 per cent of the recurring expenditure of Rs two crore every year. The establishment of the school would cost about Rs 12 crore, he said.

State Major Industry Minister J Geetha Reddy said Hyderabad had become a major industrial city in the country due to the government's industrial policy, which was very encouraging.

The government had introduced single window system in the state for early clearance of papers for the investors, she said.

FICCI President Habil Khorakiwala while complimenting the Chief Minister for his initiative on industrial growth said the government had taken up several measures for industrial growth.

The Chief Minister had taken up water conservation for agricultural growth to improve the rural economy, he said adding the state government had accorded priority to health, education and industrial sector to generate more employment opportunities for the youth.

UNI