Andhra Pradesh Government is all set to launch a Space Policy to attract investments and create jobs in the state, leveraging the buzzing space sector. The south Indian state aims to attract investments of about Rs 25,000 Cr through its Space Policy 4.0.

AP Chief Minister Nara Chandrababu Naidu held a review meeting at his Camp Office in Vundavalli on Thursday, to finalise the Space Policy drafted by officials and experts. After going through the policy document, CM expressed satisfaction, giving a nod to officials to proceed further.

According to the Space Policy 4.0, AP Govt is hopeful of creating 5,000 direct and 30,000 indirect jobs.

Another major highlight of AP’s Space Policy is setting up of Space Cities in Lepakshi and Tirupati. Chandrababu Govt aims to promote research, development and manufacturing in space sector through these Space Cities. It has decided to provide investment subsidies liberally ranging from 25 to 45 percent to attract investors and industries to these space cities.

To ensure that AP Govt’s efforts in Space sector become successful, CM Chandrababu Naidu has also roped in ISRO former Chairman Dr S Somnath as Honorary Space Technology Advisor to the Government of Andhra Pradesh. Dr Somnath also took part in the Space Policy review meeting and appreciated AP Govt’s efforts in this direction.