Vijayawada: The state government extended more than Rs 1.9 lakh crore in bank credit to the micro, small and medium enterprises (MSME) sector over the past two years while implementing a range of industrial reforms and entrepreneurship programmes aimed at boosting economic growth and employment, MSME, SERP and NRI empowerment minister Kondapalli Srinivas said on Tuesday.
Addressing a press conference on achievements of NDA coalition government in the past two years at the Secretariat, Srinivas said the government has identified MSMEs as a key driver of industrial expansion, investment attraction and job creation. Andhra Pradesh currently has around 55,000 micro enterprises, 8,000 small enterprises and over 1,000 medium enterprises. The sector comprises 49 per cent services, 28 per cent trade and 23 per cent manufacturing.
To strengthen industrial growth, the government has introduced more than 20 sector-specific policies covering textiles, food processing, electric mobility, clean energy, electronics, defence and aerospace, logistics, pharmaceuticals and medical devices. MSME parks are being developed across the state, and land has already been allotted to 792 industries, which are expected to generate more than 1.03 lakh jobs.
Srinivas said the Private Industrial Park Policy is expected to attract investments of over Rs 1,900 crore and create 16,500 jobs. A dedicated MSME revival policy has also been launched to support stressed units through restructuring and investment mobilisation. In the past two years, MSMEs received more than Rs 22,448 crore in collateral-free loans under the CGTMSE scheme and over Rs 40,000 crore under the PM MUDRA programme.
The government has also established a Rs 100-crore Collateral-Free Loan Guarantee Fund and launched the Rs 300-crore Chief Minister Entrepreneurship Advancement Programme (CMAP), which is expected to generate more than 17,600 jobs.
The minister spoke of the government’s focus on women’s empowerment, noting that self-help groups received bank linkage support exceeding Rs 63,000 crore and over Rs 9,300 crore through the Sreenidhi credit system. The government created one lakh women entrepreneurs last year and aims to create another five lakh this year. The newly launched ‘Swayam AP’ brand will market products manufactured by women’s self-help groups across the state.
Srinivas also said the state government continues to provide extensive welfare support through social security pensions and NRI assistance programmes, while advancing the NRT Icon Towers project in Amaravati.
