Retail

India's Andhra Pradesh state targets ₹5000 cr from Retail Parks Policy

19 Jul '21

2 min read

Pic: jax10289 / Shutterstock.com

India’s Andhra Pradesh government last week came out with its Retail Parks Policy 2016-2021 to boost growth and provide thrust to development of the retail sector in the state. Through the new policy, the state expects to attract new investments to the tune of ₹5,000 crore in the sector by 2026. This, the state expects, will create 50,000 direct jobs by 2026.

The new policy envisages giving a boost to organised retail trade in the state, thereby increasing the Gross State Domestic Product. The AP Retail Parks Policy is spurred by the Government of Indias reforms to attract Foreign Direct Investment in the retail industry.

According to state special chief secretary for industries, infrastructure and investments R Karikal Valaven, the policy will also encourage skill development and strengthen the unorganised retail sector.

He said a nodal officer would be posted at each district industries centre to provide hand-holding services to retail park developers and retail enterprises in the parks.

The state government, he said, would create a customised facility on a portal for developers and retail enterprises to obtain all clearances online in a time-bound manner, according to media reports from the state.

Fibre2Fashion News Desk (DS)

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