Anticipating targeted investment of Rs. 5,000 crore in the next five years, the Andhra Pradesh Government has announced retail parks policy 2021-26. The State Government has proposed to encourage retail trade parks at a minimum investment of Rs. 100 crore with 5,000 direct employments.
The Government proposes to encourage development of retail parks in every district, with focus on one particular trade including textiles.
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.
The Government would provide all basic infrastructure 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.
It can be mentioned here that as of now Andhra Pradesh holds the No. 1 position in the Department for Promotion of Industry and Internal Trade’s (DPIIT) ranking on ‘Ease of Doing Business’ (EODB) amongst states in India.
Welcoming the decision of the State Government, The Retailers Association of India (RAI) said that it’s good news for retailers and related businesses operating in the state. RAI has been working with the policy makers for the same.
Announcing the AP Retail Park Policy 2021-26, R. Karikal Velaven, Special Chief Secretary of the state said, “Andhra Pradesh has huge potential to become one of the leading destinations for retail trade. The State Government would work with retail associations to encourage local sourcing from Andhra Pradesh through buyer-seller meets (BSMs).”
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. These officers would provide handholding for those who are interested in establishing the retail park.