In a significant move aimed at boosting innovation and entrepreneurship in Andhra Pradesh, Chief Minister Chandrababu Naidu has announced the establishment of the "Ratan Tata Innovation Hub" in Amaravati.

The proposed hub will be a comprehensive center focused on skill development, fostering innovation, and supporting startups. It will also serve as a facilitation point for businesses, especially in the emerging sectors of MSMEs and food processing.

As part of the initiative, the government will offer a 5% incentive to entrepreneurs from backward communities (BC), scheduled castes (SC), scheduled tribes (ST), and women. Additionally, companies that contribute to job creation will be rewarded with an extra 10% incentive, further encouraging employment opportunities in the state. These announcements were made during a recent review meeting on industries, highlighting the state's commitment to driving inclusive growth and innovation.

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