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CII summit starts off with lots of promises to woo business

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DQW Bureau
New Update

Speaking at the inauguration of the three-day summit in Hyderabad, Chandra Babu Naidu, Chief Minister, Andhra Pradesh, assured the government's support to all those who wanted to explore the state as their destination for setting up business units. 

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He said, "The state government has worked out a new policy on infrastructure in order to facilitate private sector involvement in the development of the state's infrastructure. We have also formulated a new industrial policy and as a part of the implementation package, the state investment promotion board has formulated a set of guidelines, procedures and incentives."

The state is looking forward to provide infrastructure facilities such as roads, electricity, water, drainage etc at the doorstep of the proposed industry in the areas identified by the state government as industrial areas. Government will also facilitate creation of allied infrastructure such as telecom facilities including Internet connectivity and information kiosks.

Transportation links from industrial areas to towns will also be provided by the state. To woo the business sector, the state is giving a 50 percent exemption on stamp duty, registration fees and transfer duty on lands meant for industrial use.

The state is also setting up a Green Business Center (GBC) in association with CII. "The GBC is going to be the ultimate destination for the global companies. The center will start operating from the end of this year. In addition to this, we are also establishing a green technology park wherein research and development of green technologies will be undertaken," added the Chief Minister.

Talking about the synergy between the old and the new economy, Krishna Kant, Vice President of India, said, "The Indian economy is a notable example of the coexistence of the old order as well as the new. Our economy is liberalizing and learning fast. We are keenly aware that despite being leaders in software and certain knowledge based industries the number of Internet connections increased from 0.25 million in 1997 to 1.5 million now. An amount of Rs 2500 billion are to be spent on laying land-based lines in the next decade. These figures only prove that even if the new economy may be slightly slower now, it is most definitely pregnant with potentialities for growth. What is needed is a perceptive, insightful and co-ordinated approach to blend it into a growth model in which the old economy will have an equal and important role."

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