Chief Minister Chandrababu Naidu giving a slogan of “One entrepreneur in one family”, suggested to promote MSMEs in the state with the “Made in Andhra” brand. Conducting a review, he expressed hope that through micro, small and medium industries sector can attract Rs 50,000 crore investments
For this purpose, he said that they are planning to develop 100 new MSME parks and prepare more than 500 MSMEs to compete in the international market. As part of the goal of creating 1.75 lakh jobs, he said 175 micro parks, one in each constituency, have to be set up.
The coalition government is planning to bring a brand image to the products of MSMEs in the name of “Mad in Andhra” and compete at the international level. For this, at least 500 MSMEs have been identified and preparations are being made to provide essential training and infrastructure to the managers.
It is expected to identify 10 areas with potential for exports and formulate guidelines for MSMEs in relation to them. As a part of this, it plans to cooperate in aspects such as product sales exhibitions, national and international level e-commerce exports, and business development service providers.
It is planning to set up 3 centers in Visakhapatnam, Amaravati and Tirupati to provide global trade facilitation. CM Chandrababu has suggested some key changes in the draft policy procedures proposed by the authorities.
The government has decided to give incentives to newly established MSMEs who are already producing and improving their technology. These industries will be identified on the basis of investment and turnover. They will be given stamp duty and capital subsidy under fixed cost subsidy.
SGST reimbursement under operating cost, cost of skill upgradation, local procurement subsidy and the amount incurred for taking quality certification in accordance with central schemes will be borne by the government under the subsidy.
Subsidy on electricity charges will be given Rs 1 per unit. Encouraging the installation of rooftop solar power will try to reduce the cost of production. All MSMEs will be given 100% SGST reimbursement at the rate of 20% of technology upgrade cost.