: Vizag investors summit for political gains: TDP #IndiaNEWS #Business Amaravati, March 3 (IANS) Andhra Pradeshs main opposition Telugu Desam Party (TDP) has alleged that the industrial summit being

Vizag investors summit for political gains: TDP #IndiaNEWS #Business
Amaravati, March 3 (IANS) Andhra Pradeshs main opposition Telugu Desam Party (TDP) has alleged that the industrial summit being organised in Visakhapatnam by the state government from Friday is not in the interest of the state but only for political gains.
The TDP also alleged that for the past four years several industrialists have been harassed and now holding the industrial summit is only to mislead the public.
The opposition party claimed that several noted industrialists and businessmen fell victim to the corrupt practices of the Chief Minister Jagan Mohan Reddy. With the destructive policies and the hatred adopted by the Jagan Reddy government, not even a single industrialist has shown interest to set up unit in the state for the past four years, the TDP said in a fact sheet.
Pointing out that foundation stone has been laid for the Kadapa steel plant twice, the party mentioned that the works of the plant did not move any further. Soon after YSRCP came to power, the Mylavaram Solar Plants were attacked and the Kia management was subjected to blackmail while a conspiracy has been hatched to shutdown the Amara Raja batteries.
Scared of the massive corruption, the Jockey unit migrated to the neighbouring state from Rapthadu in Ananthapur district while the Reliance Electronic Industry has shifted from Tirupati to other state. The Franklin Templeton, Data Centre, Lulu and the Titan Electrical Vehicles unit, all left Visakhapatnam, the TDP mentioned in the fact-sheet.
The Mega Seeds unit at Kurnool was totally debilitated while the Singapore-based Ankura Industriea, the XLR Academics and several other industries left Amaravathi. Similarly, Appolo Tyres, paper pulp unit from Ramayapatnam, Best Battery unit and many such companies deserted the state.
Power holidays have been declared for companies during the YSRCP rule while power charges too have been increased heavily. Industrial subsidy amounting to Rs 850 crore has not been paid and the state government has miserably failed to encourage industrialisation, the party stated.
It claimed that during its regime three industrial summits have been organised at Visakhapatnam and Memorandums of Understanding (MoUs) were signed for an investment of Rs 16 lakh crore to create employment for 32 lakh youth.
As the chief minister of the state, Chandrababu Naidu, visited Davos four times and attracted Rs 5 lakh crore investments and generated employment for 5. 13 lakh.
The TDP asked the Chief Minister to desist from cheating the public in the name of Visakhapatnam summit keeping in view the coming elections and mend the ways to adopt vengeful attitude towards industrialists. It also asked him release the dues to the companies to win their confidence.

Stock Market NEWS Best intraday tips Intraday Stocks below 100