AP CM reviews flow of investments after GIS
Directs officials to handhold MSMEs in manufacturing to marketing of products globally
AP CM reviews flow of investments after GIS
Amaravati Stressing on the crucial role played by MSMEs in the growth of economies, Chief Minister YS Jagan Mohan Reddy directed the officials to extend all possible help to them by handholding from manufacturing to marketing their products globally.
At a review meeting held here on Monday on the implementation of MoUs signed at the GIS (Global Investors Summit) held in March on Visakhapatnam, he told them to identify the products having global demand, state-of-the-art technology needed for the small enterprises to produce such products and the ways to market them by tie-ups with MNCs.
He instructed them to formulate an action plan to provide a separate wing for MSMEs in the industries department at the Secretary level and extend the required technology so that they could play key role in the State economy.
“You should work with the aim of exporting wide range of products to several countries,” he told them, suggesting that necessary skills also should be developed among the youth for the purpose.
Officials informed the Chief Minister that out of the 387 MoUs signed at the GIS, 100 MoUs were signed by the Trade and Industry department while 13 MoUs were translated into action bringing in Rs 2,739 crore investments and creating employment for 6,858 people.
When the officials told him that 38 companies would begin their work in the State before January 2024 and 30 other companies before March 2024, he told them to ensure that all companies which signed MoUs would begin work by February 2024.
The Chief Minister was informed that out of the 25 MoUs signed on energy projects, eight projects were awaiting SIPB clearance while DPRs are getting ready for another 8 projects and works on 4 projects would be commencing soon.
Of the 20 MoUs signed on energy projects prior to the GIS-23, officials said that works on 6 projects would commence soon while DPRs are ready for 11 projects. These projects will bring Rs 8.85 lakh crore investments resulting in employment to 1,29,650 persons, they explained.
