Gadkari initiates MSME tech centre

CioreviewIndia team | Thursday, 11 March 2021, 07:13 IST

Nitin GadkariUnion Minister for Micro Small and Medium Enterprises (MSMEs) Nitin Gadkari on Wednesday virtually launched a technology centre in Visakhapatnam.

Taking part in the programme through a video link, Industries and Commerce Minister Mekapati Goutham Reddy felt that the new centre, set up in an area of 20 acres at Rs 133 crore, will play a vital role in supporting the MSME units in the region.

Stating that the MSMEs are the root of industrial development, Goutham Reddy said the state government is giving utmost priority to the segment. The minister highlighted the support extended by the state government to the sector during the Covid-19 pandemic.

Illustrating about the YSR AP One, an end-to-end business fulfilment centre being set up in the state, he said the service will be a single-point of contact for those looking to invest in Andhra Pradesh.

Highlighting that the state government has created about 31 parks to provide lands to MSMEs at reasonable costs, he said 1,557 allotments had been made to such units so far. The Industries Minister also spoke about the MoU with Small Industrial Bank of India (SIDBI) to set up a project management unit (PMU) that will help in designing schemes for the areas of equity support, interest subvention and resolution of stressed assets.

Stating that the Centre and state government have adopted cluster development approach as a key strategy for enhancing the productivity and competitiveness as well as capacity building for the micro and small enterprises, he said the MSE programme supports cluster development across the state.

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