Huge investment is, no doubt, expected to pour into the proposed capital region of Andhra Pradesh but the global investors are apparently concerned about consistency of policies, if domestic industrialists are to be believed.
Singapore, Japan and China are highly interested in investing in the new Andhra Pradesh, but they have doubts about “consistency in policies”, said industrialists at a ‘meet the press’ (interaction session) organised by the Andhra Pradesh Jounalists’ Forum here on Sunday.
Former Confederation of Indian Industry (CII) chairman of the united Andhra Pradesh Y. Harish Chandra Prasad, New A.P. CII chairman Suresh Rayadu Chitturi and Shiva Kumar interacted with the media. Another noted industrialist and venture capitalist Chintalapati Srini Raju, who could not come because he was unwell, spoke on the telephone.
All four of them were in the delegation of industrialists that accompanied Chief Minister N. Chandrababu Naidu on his visits to Singapore, Japan and China.
Mr Suresh Rayadu said that all three countries showed tremendous interest in getting involved in the development of new Andhra Pradesh, but some of them expressed doubts about “consistency” in industrial policies. There was a need to “fight these perceptions,” he said.
The industrialists expressed confidence in the leadership, vision and administrative ability of Mr Naidu and felt that entrepreneurship was more important for the fast growth of industry in the State rather than incentives.
Human resources
They also felt that it was better to invest in the development of human resources instead of the exploitation of natural resources which were finite.
Mr Harish Chandra Prasad said that the slogan of the elected representatives and others associated with the new State should be “Let all of us go home”. “Why should the MPs and MLAs educate their children in Hyderabad?” he asked.
Mr Srini Raju, over the telephone, said the prime idea of the visits to different countries was to increase visibility of the dynamic leadership of the State.
Despite the doubts there were a few things going for the State.
It had the best industrial policy. The government was looking to aspects like ease of doing business and speed of execution.
About the granting of exemptions and sops to industries and businesses in the State, the government was being told repeatedly they the state needed them “right now” and not in a year or two. One year had already passed in anticipation and that was of no use.
Industrialists say entrepreneurship is more important for the fast growth of industry in the State rather than incentives
