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Andhra Pradesh to Have Special Focus Towards MSMEs

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After the landmark decision of setting up of the Visakhapatnam Steel Plant and other PSUs, this sector has grown sizeable. But post demonetization and the implementation of the GST, the performance of this sector has been hit badly. This aspect is getting considered among the state government officials of Andhra Pradesh state.

To give a fillip to this sector, the State government of AP is proposing to set up at least one MSME park in each Assembly constituency. It has set up the MSME Development Corporation and has set an ambitious target of setting up around 200 MSME Parks by 2023.

According to A. Ramalingeswara Raju, General Manager of the District Industries Centre, the aim is to facilitate setting up of 30,000 MSMEs that will generate around 3 lakh jobs. The investment could be around Rs 45,000 crore.

In Visakhapatnam district, the authorities are taking steps to set up at least five parks in the first phase — one each at Narsipatnam, Gurrampalem, P. Anantavaram, Nakkapalli and Atchuthapuram.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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