Chief Minister Chandrababu Naidu will launch 10 MSME Parks, lay stone for 40 more in A.P. on May 1, says Kondapalli Srinivas
The Government of Andhra Pradesh is all set to inaugurate 10 MSME Parks and lay foundation for another 40 on May 1, 2025.
'The MSME Parks in Anakapalli, Pileru and other areas, which are ready in all aspects, will be dedicated to the people by Chief Minister N. Chandrababu Naidu at the Atmakur MSME Park in Nellore district. He will also lay the foundation for construction of the proposed 40 parks,' Kondapalli Srinivas, Minister for MSME, told The Hindu here on Tuesday.
Of the ambitious target of constructing 175 MSME Parks in each Assembly constituency, the government completed 10, he said. Besides laying the stone for 40 more parks, it was proposed to commence work on 45 additional parks in six months and take up work on the remaining parks after one year. 'The government aims to complete all the parks in three years,' Mr. Srinivas said.
'Interested persons may apply for allotment of land in the 10 parks from May 1,' Mr. Srinivas said. The government was planning to designate sectoral MSME Parks, among the 175, depending on the demand and resources available in the respective areas.
At the same time, he said the government would encourage private MSME Parks as well, he said.
The Minister said the government planned to construct at least one Flatted Factory Complex (FFC) in each constituency, which would be of help to the micro industries having an investment of about ₹20 lakh. 'Both the MSMEs and FFCs will nourish the economy by creating employment and industrial opportunities,' Mr. Srinivas said.
The government negotiated with the bankers to provide ₹1.28 lakh crore loan to the MSMEs for the 2025-26 Financial Year, he said, adding that it was about 48% higher than the previous year's loan limit of ₹87,000 crore for the sector.
He said the bankers accepted the proposal of the government at the State Level Bankers' Committee (SLBC) meeting on Tuesday.
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