Andhra Pradesh Launches New MSME Growth Strategy

ENA MSME 2025-05-26 15:33:09 Amaravati, May 26 (KNN) Andhra Pradesh Minister for MSME, SERP, and NRI Empowerment & Relations, Kondapalli Srinivas, launched the 'Abhivrudhi Padham lo Swarna Andhra Pradesh Nuthana Prayanam' project in Tirupati on Saturday as part of a comprehensive strategy to enhance entrepreneurship and accelerate micro, small, and medium enterprise development across the state. The launch event also marked the inauguration of two key business development platforms: the CII Andhra Pradesh Entrepreneurs Development Forum and the CII Tirupati Entrepreneurs Development Forum. These forums are designed to establish a comprehensive support network for entrepreneurs operating within the region. During his address, Minister Srinivas outlined the state government's flagship 'One Family, One Entrepreneur' initiative, which aims to establish entrepreneurial activities in every household throughout Andhra Pradesh. The minister emphasised that this program represents a fundamental component of the state's broader MSME development strategy, positioning these enterprises as essential drivers of economic self-reliance, innovation, and employment creation. The state's economic development framework includes ambitious targets under the 'Swarna Andhra@2047' vision, which seeks to achieve an annual growth rate exceeding 15 percent and establish a USD 2.4 trillion economy. To support these objectives, Minister Srinivas reiterated the Chief Minister's directive to establish at least one MSME park in each constituency across the state. These proposed MSME parks will incorporate plug-and-play infrastructure encompassing essential utilities such as roads, power supply, training facilities, and subsidised operational costs. The infrastructure is specifically designed to minimise initial capital requirements for new enterprises entering the market. Tirupati District Collector Dr S Venkateswar provided regional performance data, highlighting that districts including Tirupati, Anakapalli, and Visakhapatnam demonstrate particularly robust MSME sectors. The Tirupati district currently hosts over 15,000 MSMEs, which collectively generate employment for more than 250,000 individuals, exceeding the employment contribution of large-scale industries within the district. The collector also reported that the MSME sector in Tirupati is experiencing an annual growth rate of 18 percent. S. Narendra Kumar, Vice Chairman, CII Andhra Pradesh, addressed broader national employment challenges, noting that India requires the creation of 7.85 million non-farm jobs annually by 2030. Kumar emphasised the critical role of microenterprises in driving job growth within dynamic economic systems and noted that the state's focus on mass entrepreneurship aligns with national employment generation objectives. The event also featured remarks from Past Chairman of CII Andhra Pradesh Vijay Naidu Galla and Vice Chairman of CII Tirupati SP Rajendran, who provided additional perspectives on the regional entrepreneurship development initiatives. (KNN Bureau) 42209 https://knnindia.co.in/news/newsdetails/msme/andhra-pradesh-launches-new-msme-growth-strategy 2025-05-26 15:33:09 knnindia.co.in Andhra Pradesh Launches New MSME Growth Strategy