Andhra Pradesh has 1 lakh MSMEs with 10 lakh employees: CM Jagan Reddy

Atchutapuram, Aug 17 (KNN) YS Jagan Mohan Reddy, Chief Minister of Andhra Pradesh said on Tuesday that there are 1 lakh micro, small and medium enterprises (MSMEs) in the state with about 10 lakh employees.

Criticizing the negligence of previous governments towards MSME sector, he said that we have cleared pending arrears and given incentives of 1,463 crore to MSME segment, as per a TOI report.

CM Reddy was inaugurating the ATC tyres company and laying the foundation stone for the second phase of the company, along with another eight companies in Atchutapuram in Anakapalli district.

He also informed that 56 large and mega projects with an investment of Rs 1.54 lakh crore would be established in the state, generating around 1.64 lakh jobs in the next couple of years.

The foundation stone laying ceremony of Adani Data Center will take place in a month or two, said the CM.

Emphasising on the industrial potential of the state, he said that if the local youth get jobs then only the area or region would be developed.

"If we can provide jobs to educated youth in their native places, then it would be a major help to them," he added. 

Comparing Andhra Pradesh’s GDP growth rate of 11.43 per cent to India’s GDP of 8.9 per cent, he said this indicates that the state has been going ahead at a fast pace. (KNN Bureau)