The Andhra Pradesh MSME Development Corporation was launched on 27th June by the state government. With a 100 crore corpus fund in tow, the facility has been launched with an aim of promoting micro, small and medium sized enterprises (MSME) in the state.
The formal announcement of the launch was made by state CM, N Chandrababu Naidu. On the occasion he said that MSMEs would not only create more employment opportunities but would also contribute to the development of the state at large. He added that a single window has been created by his government to give clearance permissions to all the industries. He went on to say that since clearances are given within the quickest time possible, this is surely good news for the investors who can go ahead with their plans of starting the industries without any delays.
According to the CM, his government is keen on promoting industries in AP and thus welcomed all the entrepreneurs to make the most from these opportunities. He added that within the two years of bifurcation, Andhra Pradesh has metamorphosed into the first Indian state that offers “Ease of doing business.” At the occasion, he boasted that post the bifurcation, the state had been left stranded without any capital and at zero deficit. However, it is now displaying a growth in double digits and is the leader when it comes to promoting investors in the country.
He reminisced about the two summits with the investors that had been conducted in Vizag. He also recalled that 1,534 MoUs with a total investment amount of INR 16, 95,445 crores was signed which has led to the creation of 30, 98, 330 new job opportunities in the state. He said that 813 of these units with an investment of INR 2, 75, 650 crores have already been grounded and have created about 6, 17, 691 new jobs for the youth. He went to say that the entrepreneurs in the state should make use of the 237 clusters that have been created for the MSME by the state government with the support of APIIC.
He added that 15 acres of land in the new capital city of Amaravati will be allocated for the construction of MSME Bhavan which will be the center for marketing, training, skill development and technology. According to him, this Bhavan would act as the resource center for the entrepreneurs to realize their dreams.
N Amarnath Reddy, the Minister for Industries, N Rajakumari, Women Commission Chairperson, Siddharth Jain, Commissioner for Industries, Solomon Arokia Raj, Principal Secretary Industries and Ministers Kollu Ravindra and Umamaheswara Rao were the other dignitaries present at the occasion. In order to establish MSMEs in Andhra Pradesh, the government had signed a number of MoUs with various companies in the presence of the Chief Minister.