Amaravati, Oct 19 – Andhra Pradesh’s chief minister, N. Chandrababu Naidu, announced that the state will now release ₹1,500 crore to finish paying industrial incentives that had been pending for months. The move was revealed on CM Naidu’s official X (formerly Twitter) account and comes as the government promises to keep the state on the map for new business and growth.
“We always remember that light wins over darkness, just like Deepawali,” Naidu wrote. “That’s why we’re launching the first installment of ₹1,500 crore to clear industrial incentives.”
The incentive lift is aimed at helping small‑ and medium‑sized enterprises (SMEs) that have struggled with paperwork and payment delays. Naidu said the decision shows the government’s unwavering support for industry and its intention to keep investors confident.
The same day the state government announced a one‑month Dearness Allowance instalment for government employees, effective November 1. Overall, the TDP‑led administration highlights that it is backing all sections of society with welfare schemes, job‑creating investment incentives and employee payments.
Naidu also outlined his vision to turn Andhra Pradesh into a hub for artificial intelligence (AI). He emphasized that a CII partnership summit will be held in Visakhapatnam on Nov 14‑15 and urged that it be modeled after Davos – with plenary and breakout sessions. Topics will include AI for good, semiconductors, health, innovation, R&D, space, drones, electronics and medtech. Other themes will cover smart manufacturing, logistics, inland waterways, cold storage, agritech, rare‑earth minerals, circular economy and public‑private‑people partnerships.
“Google’s plan to set up a massive AI data center in Visakhapatnam signals the city’s rising status,” Naidu said. “Other firms are already following suit.”
He called for a focus on skill development, urging universities and educational institutions to take part in the summit. Naidu also championed a “one‑family‑one‑entrepreneur” rule and highlighted the need to showcase the state’s economic corridors, industrial clusters, Amaravati’s blue‑and‑green capital, water security and technology‑driven governance.
By clearing industrial incentives and positioning the state as an AI and industrial trailblazer, Andhra Pradesh seeks to attract more investments and support the growth of its local businesses.
Source: ianslive
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