AP’s Bifurcation Will Not Hit Investments: Geetha Reddy
Hyderabad, August 12 (INN): Major Industries Minister Dr J Geetha Reddy on Monday made it clear that the bifurcation of Andhra Pradesh would not affect industrialists and investments in both the State.
Addressing a meeting with industry leaders, industrialists and entrepreneurs at a private hotel here, Geetha Reddy said that there would not be any deviation from the industrial friendly policies of the government. “We will continue to offer the same investor-oriented administration even in future, if not better. It is also possible to provide unique incentives for specific investment activities depending on the needs of specific areas. All incentives, benefits and facilities offered previous by way of Government Orders or MoUs will remain valid regardless of where your investment is located,” she said.
Geetha Reddy said that each region of the State has unique resources and industry advantages. “The choice of any investor will be based on the availability of the infrastructure like land, road network, rail network, port and airport connectivity, power supply, waste management and resources available at a particular location. Given the rich natural resources and strong infrastructure across all region of the State, I’m confident that we will remain a favourite investment destination even in future,” she said.
“The allocation of assets between the two States will be done according to well-established norms and will take into account all local requirements into consideration. After examining all aspects, the Government of India will prepare the Terms of Reference according to which subject experts from the Centre and State will carry out the division of assets in the most optimal manner,” Geetha Reddy said.
Requesting the investors to make their investments in any region of the State, Geetha Reddy appealed them not to yield to apprehensions of any kind. “The recent developments will not have any impact on the investments in the State,” she said. “I would like to assure all the past, present and future investors that your investments will be safe,” she assured. Further, she said that there would be no forced relocation, either of facilities or employees.
Speaking about Hyderabad, Geetha Reddy said, “Hyderabad was always a cosmopolitan city with people from all over India finding employment here, even from the times of the Nizam. I’m confident that it will remain a cosmopolitan city.” She said growth in and around Hyderabad should not stop and the government would work with industry leaders and investors to ensure a higher trajectory of economic development.
The representatives of CII, FICCI, FAPCII and other industries participated in the meeting.
Talking to reporters later, Geetha Reddy said that Congress party would form government in both the States of Telangana and Andhra Pradesh and would continue its industrial policy.
CII’s AP President said that the minister’s assurance would improve the investment atmosphere in the State. Principal Secretary (Industries) Pradeep Chandra was also spoke.