Instructs Officials to extend all help to MSMEs
Emphasizing the crucial role played by MSMEs in the growth of economies, Chief Minister Mr. YS Jagan Mohan Reddy has yet again directed his officials to extend all possible help to them by handholding from manufacturing to marketing their products globally.
At a recently held review meeting on the implementation of MoUs signed at the GIS (Global Investors Summit) 2023, the Chief Minister told the officials to identify products that have global demand, while identifying the state-of-the-art technology needed by small enterprises to produce such products and then find ways to market them by tie-ups with MNCs.
The CM instructed the officers present to formulate an action plan and to provide a separate wing for MSMEs in the Industries Department at the Secretary level and extend the required technology so that they could play a key role in the State economy.
Officials informed the Chief Minister that out of the 387 MoUs signed at the GIS, 100 MoUs were signed by the Trade and Industry department while 13 MoUs were translated into action bringing in Rs. 2739 crore investments and creating employment for 6,858 people.
It was also informed that 88 MoUs were signed at Andhra Pradesh Global Investors Summit 2023 in the IT Sector worth Rs. 44,963 crores. Of this Investments worth Rs. 38,573 crores are about to commence, said the officials.