Andhra Pradesh government aims to showcase Powerful presence of MSME's and Startups in Global Investors Summit 2023

The Andhra Pradesh government is conducting two day Global Investors Summit 2023 on March 3 and 4 at Visakhapatnam. The main theme of this Global Investors Summit is " Advantage Andhra Pradesh - Where Abundance meets prosperity". The aim of AP government is to achieve remarkable growth in the Industrial Sector.

Global Investors Summit 2023-Andhra Pradesh

At the Summit AP government will showcase its booming presence of MSMEs , Startups , Good Infrastructure Facilities, Favorable Business friendly environment, Industry focused policies, Young and Skilled pool of talent. The state government has also held several road shows in Chennai, Mumbai and Bengaluru to attract investors.

The government is going to extend its support to MSMEs to the fullest as they are backbone of the economy and Job creation. In the last four years, more than 3000 crores of financial incentives has been released to MSMEs under various schemes. 

The government is committed in ensuring the progress of existing MSMEs and also aiming to create 20,000 more MSME units with more than 5 lakh jobs creation. There has been a gradual increase in MSME development and job creation opportunities in the state. In three years 37956 MSME units have grown to 60800 units employing 5,61,235 from 4,04,939 in 2019.

AP is focusing more on various high growth potential sectors like Agriculture, Defense, Aerospace, Food Processing. Automobiles, Information Technology, Electronics, EVs , Healthcare, Medical Equipment , Logistics, MSME, Petroleum, Startups, Pharma, Renewable Energy Hospitality, Textiles and Tourism

The state government has ranked  first in Ease of Doing Business (EoDB) for the last three years. The State government has launched two schemes called "YSR Cheyutha and YSR" to support women entrepreneurs. The government has  also set a target of grounding 100 clusters in the next two years out of which 52 clusters are proposed to be established during the FY 2022-23.

As according to the numbers AP has recorded the highest double digit GSDP growth rate @ 11.43%  in 2021-22. AP has maritime infrastructure and it is also called as India's gateway to the south east with 974 km coastline which is the second largest in the country. 

AP has now 6 ports and 4 more are upcoming. Three of eleven industrial corridors are being built in the state.AP has also received the Inertia Award for Energy 2022, The LEADS award for Logistics 2022,The ET Award for port led and the infrastructure project  2022.