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36 new MSME parks on anvil
The state government is formulating strategies to attract investments to make Andhra Pradesh globally competitive and sustainable industrial destination.
Amaravati: The state government is formulating strategies to attract investments to make Andhra Pradesh globally competitive and sustainable industrial destination.
As part of these efforts, the government is taking steps to improve infrastructure in the industrial clusters and achieve balanced regional growth and bottom up economic transformation. As part of it, 36 new Micro, Small and Medium Enterprises (MSME) parks are being planned in the state.
Besides, 4,560 MSMEs are anticipated to commence production in 2018-19. The industries department is expecting Rs 3,800 crore new investments in the MSME sector for the year 2018-19 and creation of 77,000 jobs through the investments. Officials said that 70 large and mega industries are likely to start production in the year 208-19 with an employment potential of 23,000 persons.
The government has also set a target to extend various incentives to 3,632 (cases) for SC entrepreneurs for current fiscal under SC component as per Industrial Development Policy 2015-20.
A target is also set to extend various incentives to 169 (cases) for SC entrepreneurs under ST component and incentives for 3,000 (cases) for general and BC Category Industrial Development Policy. It is also expected investments of Rs 11,385 crore in large and mega units in 2018-19.
The government is contemplating to conduct investments summits locally and at global level also to attract investments and setting up of industrial units. Focus has been laid on sectors such automobile, food processing, textiles, marine products, hardware, aerospace, defence, tourism, electronics and cement.
The government proposed a dedicated MSME corporation in the 2018-19 budget and MSME parks in 175 Assembly constituencies in a phased manner. It has also allocated Rs 200 crore for the MSME sector.
The government laid special focus on implementing two large industrial corridor projects, Visakhapatnam-Chennai Industrial Corridor (VCIC) and Chennai-Bangalore Industrial Corridor (CBIC). Conceptual master plan has been approved for CBIC.
