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20/01/2020 11:53am

AP govt eyeing large enterprises as ‘anchor investors' for MSME Parks

image AP govt eyeing large enterprises as ‘anchor investors' for MSME Parks

Vijayawada, Jan 20 (KNN) In a bid to get more businesses for the Micro, Small and Medium Enterprises (MSME) in the state, the Andhra Pradesh (AP) Government is eying to attract large enterprises, as anchor investors in the MSME Parks (M-Parks) that are being developed as per the MSME Parks Policy-2018-23.

The objective of the policy is to set up MSME Parks in all the Assembly constituencies spanning into 25 to 100 acres to realise their potential.

The state government has also operationalised the MSME Development Corporation (M-Corp), which has been designated as the nodal agency, and tasked the AP Industrial Infrastructure Corporation (APIIC) with the execution part.

With a motive to make large enterprises to enter into business relationships with the MSMEs, the government will allocate a maximum of 10% of the area in each park to them.

Reportedly, the M-Corp has been mandated to tie-up funds for administering the M-Parks scheme and provide investment-based incentives to the executing agencies.

A committee called 'State-level project steering' has  also been constituted to approve the M-Park development and withdrawal proposals, fix applicable infrastructure development cost and subsidies under the policy, sanction all subsidies and incentives, approve permitted changes in compliance procedures and levy penalties either for project delays or withdrawal of executing agencies or misrepresentation of information or other reasons.

As far as the allotment of lands is concern and it’s not become an impediment, the government has made it online and stipulated that the applications are processed within 21 days to make doing business easy.

The M-Parks Policy targeted creation of 200 parks by 2023 with around 30,000 MSMEs employing 3, 00,000 people and a total investment of Rs 45,000 crore.

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