AP Clears Rs 125 Cr Dues to Boost Industry

The Andhra Pradesh government has released Rs 125 crore in long-pending incentives for the IT and electronics sector, boosting business confidence and investor sentiment. Of this, Rs 60 crore will go directly to IT companies, while the remaining dues will be cleared soon, officials said.

“This decision, along with projects like the Google AI Data Hub and new centers by TCS and Cognizant, is strengthening Andhra Pradesh’s IT ecosystem,” said Sreedhar Kosaraju, Chairman of the APDTI Network. He thanked IT Minister Nara Lokesh, Principal Secretary Bhaskar Katamneni, and the ITE&C and APEDB teams for their support.

The government has also cleared incentives for the food processing sector, benefiting 222 units across the state. The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) welcomed the move, calling it a big step toward faster industrial growth.

AP Chambers President Potluri Bhaskara Rao said the sector could attract Rs 40,000–Rs 50,000 crore in new investments over the coming years, creating thousands of jobs. He appreciated the leadership of Industries Minister T.G. Bharath, Principal Secretary Chiranjivi Chowdary, and Dr. Sekhar Babu, CEO of the Andhra Pradesh Food Processing Society.

Rao added that the Food Processing Policy 2024–29 is a progressive and investor-friendly initiative that will help position Andhra Pradesh as a leading hub for agro- and food-based industries.