Andhra Pradesh Chief Minister Y. S. Jagan Mohan Reddy on Monday launched 'Jaganna YSR Badugu Vikasam', a special industrial policy aimed at promoting Scheduled Caste and Scheduled Tribe (SC/ST) entrepreneurs.
"Our new industrial development policy for 2020-23 launched recently is centered on balancing growth across regions and communities. I firmly believe that this new policy is a vital step towards promoting entrepreneurship amongst the marginalised for inclusive growth and development," said Reddy.
Government consulted various sectoral experts and industrial associations to understand the challenges faced by these communities' entrepreneurial journeys to draft the policy.
"The new policy will provide an added focus on strengthening pre-establishment support, improving market linkages, credit facilities, and economic development," said an official.
To encourage increased participation of SC and ST communities in entrepreneurship, government will provide special incentives in 362 manufacturing and 9,754 service sector activities.
"AP government is also ensuring easy availability of land under the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) guidelines," said the official.
APIIC allotment guidelines will be redesigned to provide at least 16.2 per cent and 6 per cent of the developed land to be reserved for SC and ST entrepreneurs respectively in industrial parks.
The state government is also proposing to establish a dedicated SC/ST entrepreneur facilitation cell under YSR AP One at all district industrial centres to handhold them for faster setting up of projects.
Similarly, the state government will also train SC and ST entrepreneurs in Andhra Pradesh State Skill Development Corporation (APSSDC) colleges.
Mekapati Goutham Reddy, Minister for Industries, said the government intends to provide additional support to weak and marginalised sections.
"We are also providing seed capital assistance to support entrepreneurs' startups quickly and provide incentives on power, GST and interest to reduce operating costs and provide support," he added.