NEW DELHI: Andhra Pradesh IT minister Nara Lokesh said the state govt has reduced power tariffs for shrimp farmers to address a key disadvantage against rivals such as Ecuador after the US tariffs. “Our closest competitor, Ecuador, had 16% tariffs, so the difference was around 34%. I sat with the ministers, we interacted with the industry, and we proactively looked at how we could assist them. One of the measures was a reduction of power tariffs for the shrimp farmers. It was close to Rs 4, and now it’s down to Rs 1.5, which itself gives a lot of relief,” he said, adding that new export markets such as Russia and Australia have been explored for the state’s industry as well.
Speaking at a press conference, the minister said that Andhra Pradesh secured firm investment commitments of $120 billion across sectors and aimed to generate 7 lakh jobs. He said every policy rolled out by the state govt is aimed at creating employment and fostering industrial growth.
