Vijayawada: Bankers urged to support MSMEs

Vijayawada: Minister for Micro, Small and Medium Enterprises (MSME), SERP, and NRI Empowerment and Relations Kondapalli Srinivas said many countries around the world are actively promoting MSMEs for their economic development and urged bankers to support young entrepreneurs by sanctioning loans to set up the MSMEs.

He was the chief guest at the MSME Day organised at a hotel here on Thursday. The Federation of Andhra Pradesh Small and Medium Industries Association organised the MSME Day.

Minister Kondapalli Srinivas, Industries and Commerce Department Secretary N Yuva Raj, RERA Chairman V Ramnath, Ramesh Group Hospital Chairman Dr MN Rammohana Rao, MD Dr P Ramesh and others participated in the event. Minister Srinivas inaugurated the programme by lighting the lamp.

Addressing the gathering, Minister Srinivas underlined the need for involving NRIs in the establishment of Micro, Small, and Medium Enterprises (MSMEs). He assured NRIs that the government would provide infrastructure facilities and sanction necessary approvals as early as possible to set up enterprises. He announced that based on the availability of local resources, the ‘One District-One Product’ scheme would be launched in the state through the Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

He suggested the youth produce the goods required by society. He said the youth can start small units locally and can be part of the financial development. He reminded that DWCRA units have achieved good growth in the state and MSMEs should utilise services of DWCRA members and generate employment for them.

Minister Srinivas announced that the state government would launch ‘Grievance Day’ at the district-level especially for the young industrialists to address the MSMEs issues.

He said he would review the MSME problems every three months and urged the NRIs to come back to their hometowns either to start small industries or to invest capital for employment generation.

Industries and Commerce Department Secretary N Yuva Raj thanked the government for appointing a special ministry for MSME. Andhra Pradesh is in 10th place in the MSME category in the country, he said. However, he said that there was no full information about the MSMEs and he urged the Union government to conduct a survey on MSMEs and address their issues.

Minister Srinivas handed over Rs 9.39 crore in loaning cheques to 12 industries.

FAPSIA State President V Muralikrishna, General Secretary E Purnachandra Rao, N Venkateswara Rao, and others were present.