AP Chief Minister N. Chandrababu Naidu announced that the Andhra Pradesh Micro, Small and Medium Enterprises Development Corporation would be set up with a budget of Rs. 100 crore to strengthen MSMEs in the State. Launching the logo of AP MSMEDC, he said the Corporation would help to develop marketing, branding, skill development and quality improvement of products, on Tuesday in Vijayawada.
Participating as chief guest of International MSME Day celebrations, Chandrababu Naidu said 15 acres of land would be allotted for MSME Bhavan in Amaravati for research, development and training programmes for MSMEs. He said that the state government would extend subsidy to MSMEs at right time and asked the small entrepreneurs to adopt latest technology to meet the market demands.
He said if necessary consultants should be appointed for promotion of small entrepreneurs and common infrastructure should be developed in industrial townships for them.
Chandrababu Naidu appealed to small entrepreneurs to strive hard for innovation continuously and the state government is ready to provide necessary infrastructure.
He said that MSME parks would be developed in all assembly constituencies to minimise the infrastructure costs.
Durga Prasad of Chamber of Commerce said a research and development unit should be set up in Vijayawada as Auto Nagar in Vijayawada emerged as largest auto components production centre.
Industries department signed six MoUs with Quality Control of India, National Productivity Council, National Stock Exchange, Himani Agro Tech, Krishnapatnam Port Ltd., to impart training, franchise, hand holding and for other logistics to the new entrepreneurs to start their industries in AP.