Metro India News | AMARAVATI

Emphasizing the critical role of Micro, Small, and Medium Enterprises (MSMEs) in economic growth and job creation, Andhra Pradesh Minister for MSME, SERP, and NRI Empowerment and Relations, Kondapalli Srinivas, called upon entrepreneurs to embrace new technologies and seize emerging opportunities. He was addressing the World MSME Day 2025 celebrations held at Taj Hotel in Tirupati on Friday.

“Andhra Pradesh’s MSME sector must evolve with innovation and digital tools like ONDC, AI, ERP, and IoT to remain competitive globally,” the minister said. The minister announced the establishment of 175 MSME Parks, one in every assembly constituency, to decentralize industrial development and reduce migration. He also said sector-specific parks will be developed, including plans for aerospace-focused parks near ISRO facilities.

The government will offer subsidized plots, incentives for infrastructure like CETPs and desalination plants, and enable private participation in park development.MSMEs contribute 30% to India's GDP, 45% to exports, and over 110 million jobs. Andhra Pradesh’s industrial sector contributes 23.17% to the state’s GVA, with MSMEs playing a pivotal role, according to the 2024–25 State Economic Survey.

In a landmark development, MoUs were signed with nine national agencies, including NSE, SIDBI, NRDC, NPC, NI-MSME, and others, to support MSMEs in technology adoption, financing, and IPO facilitation. The MoU with National Stock Exchange was hailed as a significant step to help MSMEs access capital markets.