The state would announce its new industrial and IT polices in a month as the existing ones would expire on March 31. The focus would be incentivsing the industry to attract more investments to the state.
The state was also studying the need to declare IT as an essential service to insulate the companies here from disruptions like bandhs and protests. This would ensure that employees working in the IT sector would report to duties without any obstructions, according to chief minister K Rosaiah.
Employment generation in rural areas and skill development would be the key focus of the new industrial policy, which would be in force for five years, he said, adding it would also lay a special focus on renewable energies.
Interacting with the industry at an interaction meet organised by the Confederation of Indian Industry here on Saturday, he said the state government would also consider a knowledge policy covering students and other stakeholders.
Besides, exempting stamp duty on registrations on a case to case basis, the state was planning to bring down stamp duty rates across the board by five per cent shortly.
Both green buildings and natural gas were key to infrastrucutral development, he said adding his government would take forward the agenda of former chief minister YS Rajasekhara Reddy in promoting industry in the state.
The gas finds at the KG basin would go a long to in achieving energy security in the country, which now met 75 per cent of the crude oil requirement through imports.