MSMEs playing a vital role in industrial development and employment generation, says Minister Kondapalli Srinivas
Increasing household incomes through job creation, entrepreneurship and women’s economic empowerment remains the Andhra Pradesh government's central development goal, says Minister for MSME, SERP and
Increasing household incomes through job creation, entrepreneurship and women’s economic empowerment remains the Andhra Pradesh government's central development goal, says Minister for MSME, SERP and NRI Empowerment & Relations Kondapalli Srinivas. Addressing the media at the Secretariat on Tuesday, Mr. Srinivas said the government had focused on strengthening the MSME sector, empowering rural women and supporting Non-Resident Telugus over the last two years, with the objective of ensuring sustainable livelihoods and inclusive growth.
He said MSMEs were playing a vital role in industrial development and employment generation, with nearly 64,000 micro, small and medium enterprises currently operating in the State. The government introduced sector-specific policies for industries such as textiles, food processing, electronics, clean energy and pharmaceuticals, while promoting MSME Parks across the State to expand industrial activity into the rural areas.
Highlighting the support for entrepreneurs, Mr. Srinivas said more than ₹1.90 lakh crore in bank credit had been facilitated for the MSMEs during the period. Through the Chief Minister Entrepreneurship Advancement Programme (CMAP), the government aims to encourage thousands of new enterprises and create over 17,600 jobs. The Minister also said women self-help groups received bank linkages exceeding ₹63,000 crore, while efforts were underway to create five lakh women entrepreneurs this financial year.
He attributed the initiatives to the vision of Chief Minister N. Chandrababu Naidu, stating that the government's focus remained on investment, employment generation and improving living standards across the State.
The BriefWire