Text: Bhargav TS
Sri City, a planned integrated business City located in Andhra Pradesh (AP) and 72kms away from Chennai targets to have 500 companies by 2020 with the help of new industrial policy formed by the AP government. This will create huge employment prospects directly and indirectly to country’s inhabitants. As of now 65 companies are operational and lots of companies are in pipeline to kick start their operations in the industrial hub.
As the new industrial policy created by AP government is supporting the Make In India campaign, the bureaucratic clearances and approvals will be in a faster pace and the factories could flag their establishment within a span of 8-10 months, says Ravindra Sannareddy, Managing Director of Sri City. He further said, “Unemployment will become a history to India when all operations are intact. Chennai is the Detroit of Asia and Sri City is said to be the cluster for auto components reason being it has quick access to Chennai and Bengaluru where auto companies are copious.”
Isuzu has recently signed MOU with AP govt for the establishment of its vendor park and the government has allotted 100 acres of land for its phase 1 establishment. Sri City has plug and play office space for 10-15 companies at the same time. Hence the companies need not wait for 8-10 months but can have a prototype establishment and start its official prior to manufacture operations. Post construction they can move to their own premises and the same office will be prototyped for some other factory.
The Central Government also supports the state’s establishment via conferring special economic status for the state, incentivising the move and accelerating the process. Single desk approvals, special incentives for companies, receptive administration are the highlighting attributes for a progressive and invigorating move by the factories.
Sir Ccity has hitherto lot of enquiries from Japan, Thailand and China. With these enquiries in place the manufacturing hub of Sri City has 500 acres of land being lined up for diverse set-ups. The companies established will not have any depletion of man power as the state has abundant market ready talent pool, says Reddy. An industrial local authority has also been created exclusively for Sri City and the delay in approvals will be a million dollar question. Power and water availability will be stupendous which is highly imperative for the factory setup.
Reddy revealed that, the total proposed investment has so far crossed Rs 20,000 crore and the employment opportunities directly and indirectly will be provided to 175,000 people. The aforementioned 500 acres will be occupied in next 2 quarters. The quality of the infra structure is the best and has been awarded the best SEZ by various trade associations. This has been regarded the best destination for business by various foreign ambassadors, Indian Ministers and government officials. Sri City is also planning to find new customers in electronic sector, food processing, engineering and auto components in next 6-12 months. Looking forward for an epitomic era of non employment getting axed with these off-shore establishments, concludes Reddy. ACI
