AP to Launch MSME Parks Across Constituencies
By : MD Ilyas
Update: 2024-11-09 23:20 GMT
VIJAYAWADA: In a major push to boost the performance of Micro, Small, and Medium Enterprises (MSMEs), Andhra Pradesh’s Minister for Mines, Geology, and Excise, Kolllu Ravindra, on Saturday inaugurated a workshop on the formalization of MSMEs under the "Raising and Accelerating MSME's Performance" (RAMP) program in Machilipatnam. During the event, Ravindra announced the state government's plan to establish MSME parks across all assembly constituencies, starting with a 100-acre park in Machilipatnam.
The minister revealed that the Machilipatnam assembly constituency would see the launch of at least 50 new industries in the first year of operation within the newly established park. This initiative is part of a larger strategy to improve industrial growth in the region, which includes the completion of the Machilipatnam Port by 2025. Ravindra emphasized the city’s historical significance in boat manufacturing and its potential to attract more industrial investments.
Under the state’s New Industrial Policy, the government aims to have "an industrialist in every household," focusing on empowering small and local businesses, particularly those using natural resources like weeds removed from canals, which are being repurposed into household items. The government plans to establish centers for these ventures, employing members of Self-Help Groups (SHGs).
To support emerging entrepreneurs, Ravindra highlighted that new industrialists would be eligible for a 50% subsidy under the Prime Minister’s Employment Generation Programme (PMEGP). He also promised to restart the stalled Jewellery Park project and extend support to new industries through the Public-Private Partnership Policy for Prosperity (P4 Policy), introduced by Chief Minister Chandrababu Naidu.
Additionally, Ravindra called upon women entrepreneurs to seize opportunities in Machilipatnam and reaffirmed the government’s commitment to creating employment opportunities for around 20 lakh unemployed youth across the state. The vision for Machilipatnam reflects the broader state strategy to foster industrial growth and job creation.
The event was attended by APSRTC Chairman Konakalla Narayana Rao, Krishna district collector DK Balaji, DIC Manager R Venkata Rao, APMSMEDC ED Srinivasulu Reddy, and faculty member V Swapna, among others.