Andhra Pradesh government on Monday unveiled its new Industrial Policy 2020-23 identifying 10 thrust areas to propel economic growth, with manufacturing as the high priority sector that would create large scale employment. The government has identified industrial zoning as a key focus area to ensure planned industrial development and provide a risk-free, investment-friendly environment for setting up and operating industries in the state with minimal impact on the environment.

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"De-risking the investments is the cornerstone of the new industrial policy. We are introducing 'YSR AP One', a multi-faceted business enablement center which acts as a one-stop resource and support center for industries," state Industries and Infrastructure Minister Mekapati Goutham Reddy said, unveiling the new policy at the AP Industrial Infrastructure Corporation.

'YSR AP One' would provide handholding support (to investors) during pre-establishment and setup of industrial units, post-setup support, backward and forward linkages and access to market and new technologies among other things, the minister said. The current lease and buy models for land allotment are being replaced with a composite lease+buy model, where an industrialist gets to purchase the land after successfully running his unit for 10 years.

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The thrust areas identified by the government, under the new industrial policy include food-processing, pharmaceuticals and biotechnology, textiles, electronics, footwear and leather, toys and furniture, petrochemicals, aerospace and defense, automobiles and components, machinery, precision equipment and mineral-based industries.

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