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.

 

Prime Minister Modi has announced Rs 20 Lakh Crore Economic Stimulus package to fight against Covid-19 Battle

Prime Minister Narendra Modi has addressed the nation Fifth time and five days before the Nationwide Lock down 3.0 is going to end. Modi Told the Lock down 4.0 will be in a new form. He also mentioned that Caronavirus will be a part of our lives for a longer period of time as said by experts and research scientists.We need to overcome this pandemic situation by wearing masks and Maintaining Social Distancing measures. The Government will announce the new rules before May 18th.

Prime Minister Narendra Modi

Narendra Modi has announced Rs 20 Lakh crore worth Stimulus package that helps to revive the economic crisis arised due to Caronavirus. This Package is equivalent to 10% of India's GDP. Finance Minister Nirmala Sitaraman will give the complete details regarding the economic package on 13th May 4 PM. This Package will play a bigger role in "Atmanirbhar Bharat Abhiyan" 

The reforms will strengthen Make in India and promotes global & local businesses that attracts investments. The new reforms includes Rational Tax System Policy, Simple and clear rules and regulations,laws Agriculture Supply Chain reforms,Efficient Human Resources, strong financial system. This Package will also focus on MSME's ( Micro Small and Medium Sized Enterprises ) , Cottage industries, Farmers and Labourers ,Middle class people and Industry. This package will also help poor people , migrant works Organized and unorganized sectors to empower them to provide their best of their efficiency and quality deliverables.

Narendra Modi mentioned  The economy with strong financial system, Quality Infrastructure, System Demography and Demand are considered as top five pillars of  India's self-reliance. He also stresses more on local manufacturing , Local Markets and supply chains related to farming etc that help them become global. India has converted this pandemic Covid-19 challenges into an opportunity. 

This package may have loan guarantees to Micro Small and Medium Sized Enterprises, Wages support for workers, Protection and support for Migrant Labourers, Various Tax incentives for local production units , Tax rebates for spur spending activities and providing support for Construction activities.