Hyderabad: Andhra Pradesh Government is keen on promoting micro, small and medium enterprises (MSMEs), according to Minister of Major Industries J. Geetha Reddy.
In her inaugural address at a bankers’ conclave on the MSME sector organised by the Federation of Andhra Pradesh Chambers of Commerce and Industries here on Saturday, she said Government would consider allotment of land to such clusters on a proactive basis.
There were about 1.8 lakh SMEs in the State employing a capital of Rs 33,900 crore and providing jobs to close to two lakh people, she said.
However, many MSMEs did not have enough understanding on the financial institutions and credit availability. “There is a need for conducting awareness campaigns to improve awareness,” the Minister said.
In his keynote address, Sanjaya Baru, Director, International Institute for Strategic Studies, said there was a need for collaboration between small and medium enterprises and financial institutions.
“It should be a day-to-day interaction to ensure that small businesses are on a firm financial footing,” he said in his address. Small and medium enterprises should focus on finance, technology and efficiency to reduce the mortality rate, he said.
The MSMEs should try to stand on their own after a period of time without fear of losing the initial concessions, he added.
Banks should extend finance to smaller units on a competitive basis but not due to Government intervention, Baru said.
Devendra Surana, President, Fapcci, said the power supply situation in the State was “very bad’ causing lot of trouble to the industry.
The MSME sector should be strengthened, he added.
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