Hyderabad, Apr 29 (KNN) The Andhra Pradesh government will bring out a policy for micro, small and medium enterprises (MSMEs) to give a boost to entrepreneurship in the state.

According to a media report, the sector can attract investments worth Rs 1,200crore by providing 2.7 lakh jobs in the next five years.

Secretary (industry and investments) SS Rawat informed Chief Minister N Chandrababu Naidu that the fiscal incentives of the upcoming MSME policy will be the best in the country.

The new policy is set to give a huge boost to entrepreneurs by providing seed capital to them.

Stating that the policy will provide incentives to women, SC and ST entrepreneurs, it envisages giving15 per cent of Andhra Pradesh Industrial and Investment Corporation’s (APIIC) land to MSMEs.

Rawat said the government will also offer a subsidy on patent registrations and certifications of MSMEs.

Annual awards could be given based on innovation, quality of the product, employment generation and high growth in profit. (KNN Bureau)