The proposed National Manufacturing and Investment Zones (NMIZ) would catalyse the manufacturing sector growth in the state. The zones offer a ‘business-friendly’ ecosystem with flexible labour laws and quality infrastructure tuned to encourage co-location and networking of industrial units, said AP industries minister Kanna Lakshminarayana.
Inaugurating a CII conference on ‘Andhra Pradesh as an emerging growth engine — the way forward’ here on Wednesday, the minister said the secondary sector growth was necessary to absorb the migration of people from agriculture.
He said the state provided the ideal investment climate for industries in the form of low power tariff, 100 per cent reimbursement of stamp duty and a special incentives package for investments above Rs 250 crore. He cited the JN Pharma City, Brandix, Genome Valley and Apache as success stories of the public-private partnership model.
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