MSMEs will be linked with MNCs to enter global market: Andhra CM

ENA State 2023-06-06 13:29:39 Vijayawada, June 6 (KNN) Andhra Pradesh Chief Minister YS Jagan Mohan Reddy said on Monday that MSMEs will be provided with technical know-how and connected with multinational companies to sell their products in the global market. Chairing an industry review meeting, he said that the state governments top priority must be for promotion of MSMEs. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> The meeting was held with Industries Minister G Amaranath and senior officials at his camp office on Monday. CM Ready highlighted the significance of MSMEs and their crucial role in the growth of the industries in Andhra Pradesh. The government should serve as a guide for MSMES by identifying the products that are in high demand in the global market, providing them with technical know-how and help link them with the MNCs, he said. The CM called for an action plan for promotion of MSMEs. He asked the officials to set up a special wing exclusively for MSMEs and appoint a secretary exclusively for this wing. Product diversification must be encouraged so as to reach world markets, he said. He stressed on maintenance of quality for the products and felt the need to provide skill development training. The Chief Minister also reviewed the progress of implementation of MoUs signed at the Global Investors Summits held in AP in the last few years. The officials informed the CM that the State Investment Promotion Board meetings were held 10 times since the YSRC government assumed power in 2019, and as many as 59 projects were given approval. Out of these, a sum of Rs 3,39,959 crore worth investments were to be received and 2,34,378 jobs to be generated. They said that out of 1,739 MoUs signed with an investment commitment of Rs 18,87,058 crore from 2016 to 2018, not even 10 per cent of the committed investment were materialised. In the recently held Global Investors Summit in Visakhapatnam, 387 MoUs were signed, of which 100 MoUs belonged to industries and commerce. Of them, 13 MoUs were realised with a total of Rs 2,739 crore in investments and it generated employment for 6,858 persons, officials said. (KNN Bureau) 33604 https://knnindia.co.in/news/newsdetails/state/msmes-will-be-linked-with-mncs-to-enter-global-market-andhra-cm 2023-06-06 13:29:39 knnindia.co.in MSMEs will be linked with MNCs to enter global market: Andhra CM