Govt aims to facilitate 1.5L MSMEs in 2023-24: K S Jawahar Reddy

Vijayawada: A target was set to establish 1.5 lakh MSMEs to provide employment to 7.5 lakh youth during 2023-24, according to Chief Secretary K S Jawahar Reddy.

Reviewing the progress of MSMEs at his camp office here on Saturday, the Chief Secretary said that the State government is determined to generate employment by setting up more number of micro, small and medium enterprises.

He said during 2023 a target was set to set up 1.25 lakh MSMEs at a cost of Rs 15,625 cr and so far 92,707 MSME units have been set up achieving 62 per cent of target and provided employment to 3.61 lakh youth.

The Chief Secretary said during 2023-24, a target was set to set up 1.5 lakh MSME units to provide employment opportunity to 7.5 lakh youth. He said officials should take the initiative to launch new MSMEs on October 2. He directed the officials to send a proposal to the Central government on feasibility for setting up MSMEs as per the raw materials available in each district.

Earlier Commissioner of Industries K Praveen Kumar gave a power point presentation on the progress of MSME sector in the State. He said 3.94 lakh MSMEs were set up in the State since the launching of the programme providing employment to 34.84 lakh people. He said under the Prime Minister Employment Generation programme during 2022-23, a target was set up to establish 6,750 MSMEs and so far 3,069 units were set up.

He said proposals were sent to the Central government to set up MSMEs in Visakhapatnam, Kakinada and Guntur districts.

Principal Secretary for Handlooms and Textiles

K Suneeta and others

were present.