AP to Gain 1st Coastal Economic Zone Ever in India?

After the separation, Andhra Pradesh is undergoing a lot of renovations in the name of development. Now there is going to be a bonanza to say for the state. If things fall in place, AP is going stand as ‘the state’ to have 1st Coastal Economic Zone(CEZ) of the Country. And the places that state government is likely to pick for the same are Machilipatnam, Donakonda, Krishnapatnam, Srikalahasti-Yerpedu.

[m9ad]

Reports say that Krishnapatnam of Nellore district got a good amount of land and also possesses the expected port substratum which promotes Import and export activities well. This adds importance to Krishnapatnam to be considered as the favorable place for the CEZ to be located at. In addition, if the CEZ comes to Krishnapatnam, it could become the source of jobs to the areas nearby like Rayalaseema.

Andhra Pradesh‘s CEZ could be the largest one in size in the country compared to Special Economics Zones of the country. The state would cast about the protocol of China, which is the corporate tax exemption for ten years. China owns the privilege of acquiring world’s first Coastal Economic Zone in Shenzhen and Guangzhou which are spread across Rs 2,500 square km each.

Aravind Panagariya would be visiting Amaravati on Tuesday to meet CM Chandrababu Naidu and the agenda mainly focuses on the strategies that AP government need to put forth for the CEZ to be located in the state. In terms of Sagaramala project, Aravind Panagariya cited that CEZ in Shenzhen-style would bring up a hike in employment and economic activity.

The government of AP is planning to approach Central government with regards to elevating the ports, substratum, and liberal export system. The state government would also solicit NITI Aayog team to arrange funds as part of special status for the industries in Kurnool and Prakasam districts as they possess larger part of government land.