Vijayawada, July 16, 2021: The state government declared retail parks policy 2021-26, anticipating targeted investment of RS 5,000 crore in the next five years. The government has proposed to encourage retail trade parks with a minimum investment of Rs 100 crore with 5,000 direct employments.
The state government issued orders on Thursday to attract investments in retail trade in the state. The government proposes to encourage development of retail parks in every district each park with focus on one particular trade, like pharmaceuticals, textiles, plastics, electricals, etc.
A nodal officer will be designated in every District Industries Centre (DIC) to facilitate the retail investment and promote retail parks to come up in the districts. The nodal officers would provide handholding for those who are interested in establishing the retail park. The nodal officer would help the investors get all clearances from the government.
The policy also provides infrastructure assistance from the state government for any park with an investment of Rs 100 crore or providing 5,000 direct employment. The government would provide the roads, water, sewerage, electricity and other facilities to such parks. However, these incentives would be extended to the investors only if they fulfil the mandated investment or employment target, the state government said.According to reports published in timesofindia.indiatimes.com
The state government also proposes to encourage organised retailers to set up their warehouses/distribution centres within the designated areas in the park. The government proposes logistic policy to cover the required initiatives for encouraging setting up of world class warehouses on PPP basis.
“Andhra Pradesh has huge potential to become one of the leading destinations for retail trade. The state is a leader in agriculture, horticulture, dairy/poultry production and other raw materials, ranking amongst the top states in India across many sectors,” said R Karikal Velaven, special chief secretary to the government, while declaring the AP Retail Park Policy 2021-26.
He further said that the state government would work “with retail associations to encourage local sourcing from Andhra Pradesh through buyer-seller meets.”
