Rayalaseema to transform into industrial hub, bright prospects for MSMEs: Reddy

New Delhi, July 8 (KNN) Predicting the growth of industry in the Rayalaseema region of Andhra Pradesh, Industries Minister N.Amarnath Reddy said that the region is likely to develop as an industrial hub, leading to a growth in the Micro, Small and Medium Enterprises (MSMEs).

Talking to press during at the three-day National Industries Machinery Expo 2017, Reddy made these remarks.

Reddy said that industrial sector creates employment and also contributes to the overall development of the state.  Referring to Chittoor and Nelllore districts of Rayalaseema, Reddy added that there is huge potential for these areas to develop as model industrial hub for the state.

Mentioning the different programs and schemes extended by both Central and State government, Reddy appealed that the entrepreneurs must make use of these opportunities and set their own businesses.  Reddy also informed about the financial assistance that is being offered to women entrepreneurs, graduates and SC/ST entrepreneurs to set their own MSME units.

He also informed about the setting up of 13 MSME parks across the state. For this purpose 1,235 acres of land has been identified.

Reddy reiterated his government’s plan of earmarking 1,500 crores for the development of Coastal Employment Zone that is expected to generate over 50,000 jobs. (KNN/ DA)