Industrialists and businessmen play a vital role in the economy, says Andhra Pradesh Finance Minister

Finance Minister Buggana Rajendranath Reddy has said that industrialists and businessmen play a vital role in the economy as without businesses, commerce and trade no government can get taxes to administer

Finance Minister Buggana Rajendranath Reddy has said that industrialists and businessmen play a vital role in the economy as without businesses, commerce and trade no government can get taxes to administer. Unfortunately, businessmen do not have public sympathy as in the case of farmers and workers, he said.

The Finance Minister along with Minister for Industries and IT Gudivada Amarnath, and Justice Jasti Chalameswar, a former Judge of the Supreme Court, participated at a meeting organised to announce the launch the FAPCCI (Federation of AP Chambers of Commerce and Industry) Excellence Awards 2022-23 here on Friday.

The Finance Minister said that there was nothing wrong in earning money as long as one does it the right way. Referring to the vision document of FAPCCI, he appreciated the federation for its role in representing the voice of the industry, and for being a bridge between the industry and the government. While appreciating the efforts of the federation to help prospective entrepreneurs, Mr. Rajendranath said that it was here that the government could provide skill training as ‘skilling’ was important for development.

He elaborated on the skill training programmes being undertaken by the government to enhance the employability of students coming out of ITIs and polytechnics. He called upon the industry representatives to support the government by providing their expertise to train the students of Government ITI s and polytechnics and to utilise their CSR funds to provide revenue expenditure for maintenance of laboratory facilities.

Mr. Amarnath commended FAPCCI for coming out with the awards to motivate entrepreneurs. Referring to criticism of the New Industrial Policy by some trade bodies, he said that the opinions and suggestions of various associations were taken before the launch of the policy. He, however, said that government wanted revenue and employment generation. He called upon the federation representatives to bring to the notice of the government, if they had any difficulties or issues.

Justice Chalameswar underlined the importance of professional bodies like FAPCCI to take care of industrial growth.

FAPCCI vice president Kankatala Mallikarjuna Rao, immediate past president C.V/ Atchut Rao, G. Janaki Ramachandram from Krea University, and CEO of FTCCI Kyati Naravane spoke.