Advisory council soon to bring in investments in Andhra Pradesh

News Posted - 2010-11-07, Last Updated - 2010-11-07

HYDERABAD: The state government has decided to use the services of industry captains to attract fresh investments into various sectors by spreading across the message that it continues to remain investor-friendly.

With likes of Tatas and Mahindras keen on fuelling their expansion plans in the state, chief minister K Rosaiah has directed his office to immediately set up an 'industrial advisory council' consisting not only subject-specific professionals of eminence, but also have a representation of apex business organisations like CII (Confederation of Indian Industry), FAPCCI (Federation of Andhra Pradesh Chambers of Commerce and Industry), FICCI (Federation of Indian Chambers of Commerce and Industry) and the Associated Chambers of Commerce and Industry of India (Assocham). The chief minister is likely to be the chairperson of the proposed council.

Government sources said the chief minister wanted officials to leave behind controversies and start focusing on encouraging employment-generation units across the state.

The directive includes formation of sector-specific committees, which would meet every quarter and suggest suitable measures to encourage labour-intensive industries and also hold extensive reviews on the operational efficiency of these new players.

"The chief minister is very keen to draw the experiences of various industry captains to improve the investment ambience in the state. He wants them to advise and review all parameters necessary for sustaining the growth of all industries in the state. A special exercise would soon be underway to identify potential growth areas in existing sectors like manufacturing, IT/ ITES, pharmaceuticals, biotechnology, textile & apparel promotion and food processing," the source said.

The government has already succeeded in convincing leading public sector companies like BDL, HAL, BEL and ECIL to make Andhra Pradesh its ideal destination for their expansion plans. "The government's efforts will be to ensure that Hyderabad continues to remain one of the top seven global destinations for ITES investments," the source added.

As of now, APInvest, the state government's nodal agency, is the single point of contact that facilitates investments and functions under the chairmanship of the chief minister. Source: TOI 7/11/10