During a meeting to review the industrial policy held on Monday, 20 February 2023, AP CM YS Jagan Mohan Reddy directed the officials to construct a special facility for startups in Visakhapatnam. This 3 lakh square feet special facility would accommodate the office of the industries department alongside supporting the growth of startups in Visakhapatnam and other parts of the state.
Further, CM Jagan guided senior officials to curate a new industrial policy in a manner that would aid budding entrepreneurs in developing their ideas. “Micro Small and Medium Enterprises (MSME) have to face tough competition in the world and they can march ahead only through tie-ups with international companies and agencies”, the CM opined. Citing the increase in competition in the MSME sector, he affirmed that proper marketing of products would boost businesses.
“The new industrial policy as a whole must meet the demands of the entrepreneurs.” The CM stated that the MSME policy should advise, assist, and support the startups in every facet. Additionally, he remarked that it is also important to provide basic infrastructure to meet the demands of port-based industries. The officials were asked to create a policy keeping in mind all the above-mentioned points.
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