A number of foreign companies were coming forward to start industries in the State, Minister for Major Industries Dr J Geetha Reddy, stated here today.
She said that the Government has decided to give priority for automobile sector. The Government wants to reduce the VAT on Automobile sector from the present 14.5 per cent o five per cent, with a view to encourage investments. Shortly, investments to the tune of Rs.2,400 crore was expected, and it was estimated that they would provide employment opportunities to 4400 persons.
The Minister further said that the Government wants to industrial concessions to the physically challenged persons on par with the SC and ST industrialists. The Government was creating one Industrial park for women in each district. (NSS)