Advertisement

Andhra Pradesh retail policy eyes Rs 5,000 crore investment, 50,000 jobs in 5 years

Posted : July 16, 2021 at 11:13 am IST by ManaTeluguMovies

VIJAYAWADA: Aimed at encouraging retail trade, thereby generating employment opportunities by way of facilitating investments in retail parks, the State government on Thursday released the Retail Parks Policy 2021-2026. The objective of the policy is to boost organised retail trade within the State in order to increase the GSDP.

The policy, to be in force for five years, eyes new investments to the tune of Rs 5,000 crore and the creation of 50,000 additional direct employment opportunities in the retail industry by 2026. The government, besides offering hand-holding to the Retail Park developers and retail enterprises set up within these parks as part of Ease of Doing Business (EoDB), announced financial incentives.

Apart from appointing a nodal officer at each District Industries Centre to provide hand-holding services to retail park developers and retail enterprises set up in these parks, the government will create a customised ‘Single Desk Portal’ so that retail park developers can obtain all clearances online in a time-bound manner.

“The government has decided to bring out the policy on mega retail parks given the advantage of AP being ranked as No. 1 in Ease of Doing Business. The policy offers immense potential to boost the economy, develop the retail sector in a holistic manner and create large-scale employment,” Special Chief Secretary (Industries and Commerce) Karikal Valaven said in the orders issued Thursday.
As part of the policy, the state government will work with retail companies to encourage local sourcing within the State through buyer-seller meets. Further, product distribution centres and warehouses will be treated as a service industry under the new policy. The Department of Industries, Commerce and Export Promotion will act as the implementing agency.

Special package for LLP

Minutes after announcing the AP Retail Parks Policy 2021-26, the government extended a special package of incentives to M/s Capital Business Park LLP, which proposed to set up a mega retail park (textiles) with a built-up area of 7 lakh sq.ft to accommodate over 900 textile and apparel outlets at Tadepalli in Guntur district with an investment of Rs 194.16 crore and with a potential to create 5,000 direct jobs.

Incentive disbursement

All the incentives will be disbursed only after meeting the mandated investment or employment targets
All the applications and incentive disbursement procedures for approvals will be as per the operational guidelines of the AP Industrial Development Policy 2020-2023.


Advertisement

Recent Random Post:

అచ్చెన్న పై అభియోగం | Privileges Committee decides to summon Atchannaidu |

Posted : July 21, 2021 at 1:23 pm IST by ManaTeluguMovies

అచ్చెన్న పై అభియోగం | Privileges Committee decides to summon Atchannaidu |

Advertisement
Advertisement
728x90 Ad
Advertisement
Advertisement
728x90 Ad
Advertisement