FAPSIA president V. Murali Krishna and Aster Ramesh Hospital chairman Dr. Ramesh Babu exchanging a copy of an MoU in presence of MSME Minister Kondapalli Srinivas, at a programme organised in connection with International MSME Day celebrations in Vijayawada on Thursday.
| Photo Credit: G.N. Rao
MSME, SERP and NRI Empowerment and Relations Minister Kondapalli Srinivas said that the State government would extend all possible support to Micro, Small and Medium Enterprises (MSMEs) in the State. The contribution of the MSME sector to the GDP was significant compared to other sectors, but there was still a need for handholding of the MSMEs for further growth. The government would conduct a grievance day in every district once a month to address the problems and challenges faced by the MSMEs, he said.
Federation of Andhra Pradesh Small Industries Association (FAPSIA) in association with AP MSME Development Corporation organised International MSME Day celebrations here on Thursday.
On the occasion, the Minister said that almost every village and every household in the State has a person living abroad. But they cannot boast of having an entrepreneur or MMSE. The youth should rethink their priorities and outlook. A job abroad would fetch $100,000. Similar earnings were possible if an MSME was set up. A person can earn ₹28 lakh per annum. Also, they can generate employment opportunities, he said, adding that NRIs should come forward and make investments in Andhra Pradesh.
Referring to challenges and problems faced by the MSMEs and budding entrepreneurs, the Minister said that he would take the issue of high land prices to the notice of the Chief Minister. At the same time, aspiring entrepreneurs need to learn the tricks of the trade, he said. The Detailed Project Reports (DPRs) should be so watertight that bankers cannot turn down requests for a business loan. Associations and bodies like FAPSIA should also empanel a few experts to assist aspiring entrepreneurs in preparing the DPRs. Also, private MSME parks can be developed if a group of 15 to 20 people with similar interests come together. The government would provide necessary infrastructural facilities and consider other issues like power, he said.
Principal Secretary (MSME) N. Yuvaraj, FAPSIA state president V. Muralikrishna and others spoke.