AP Govt creates MSME Development Corporation with Rs 100 crore corpus fund

New Delhi, June 28 (KNN) Recognizing the role of MSMEs in overall development of the state, Andhra Pradesh government has launched an AP MSME Development Corporation with a corpus fund of Rs 100 crore.

Chief Minister N Chandrababu Naidu launched the corporation and said that the MSMEs would help in the overall development of the State besides creating employment opportunities.

The Chief Minister, while participating in the MSME Day organised by the State Industries Department, said that the government had created single window to issue clearances  for the industries at the shortest possible time giving a great relief to the investors to start industries.

The Chief Minister said that the government was committed to promote industries in the State and asked the entrepreneurs to take advantage of the government initiatives.

He said that the State stands first in Ease of Doing Business in the country in just two years of the bifurcation.

The State which was bifurcated with revenue deficit and without a capital is now showing double digit growth and standing on top of the rest of the States in the country in promoting investors, he added.

Naidu said that the State had created 237 clusters for the MSME in the State with the support of the APIIC and wanted the entrepreneurs to make use of it.

The Chief Minister further said that the government would allocate 15 acres of land in Amaravati for the MSME Bhavan. This bhavan would be the center for technology, marketing, training and skill development, he added.

The proposed MSME Bhavan in Amaravati would be the resource center for the entrepreneurs to march forward, he added.