Realisation of investments, operation of units signed at GIS commence in AP

AMARAVATHI: Stressing on the crucial role played by MSMEs in the growth of economies, Chief Minister YS Jagan Mohan Reddy on Monday asked the officials to extend all possible help to them by handholding from manufacturing to marketing their products globally.

At a review meeting held here on the implementation of MoUs signed at the GIS (Global Investors Summit) 23, the Chief Minister told them to identify the products having global demand, state-of-the-art technology needed for the small enterprises to produce such products and the ways to market them by tie-ups with MNCs.

He wanted them to formulate an action plan to provide a separate wing for MSMEs in the industries department at the Secretary level and extend the required technology so that they could play key role in the State economy. “You should work with the aim of exporting wide range of products to several countries,” he told them, suggesting that necessary skills also should be developed among the youth for the purpose.

Officials informed the Chief Minister that out of the 387 MoUs signed at the GIS, 100 MoUs were signed by the Trade and Industry department while 13 MoUs were translated into action bringing in Rs. 2,739 crore of investments and creating employment for 6,858 people.

When the officials told him that 38 companies would begin their work in the State before January 2024 and 30 other companies before March 2024, he told them to ensure that all companies which signed MoUs would begin work by February 2024.

The Chief Minister was informed that out of the 25 MoUs signed on energy projects, 8 projects were awaiting SIPB clearance while DPRs were getting ready for another eight projects and works on four projects would be commencing soon.

Of the 20 MoUs signed on energy projects prior to the GIS-23, officials said that works on six projects would commence soon while DPRs are ready for 11 projects. These projects would bring Rs.8.85 lakh crore investments resulting in employment to 1,29,650 persons, they explained.

Reviewing the growth of IT industry and investments into the sector, the Chief Minister told the officials to work towards turning Visakhapatnam into IT hub and make it the care of address for IT related industries.

Officials disclosed that 88 MoUs worth Rs. 44,963 crore were signed on IT and its related projects. Out of this, investments worth Rs. 38,573crore had already come and the companies were about to start their operations.

The Chief Minister said that officials should work towards translating the MoUs signed on food processing projects into action at the earliest to help the tomato and onion growers by establishing processing units. He also reviewed the flow of Investment into animal husbandry and tourism sectors for which MoUs were signed.

They also explained that the State achieved excellent progress with the growth rate reaching 11.43 % in 2021-22 from 5. 36% in 2019. The exports from the State also went up to Rs. 1.6 lakh crore in 2022-23 from Rs 1.43 lakh crore in 2021-22.

IT and Industries Minister G. Amarnath, CS Dr. K.S. Jawahar Reddy, Special Chief Secretaries R. Karikal Valaven (Industries and Commerce), K. Vijayanand (Energy), Dr Rajat Bhargava (Revenue) and Gopalakrishna Dwivedi (Agriculture), Principal Secretary Chiranjeevi Choudary ( Marketing and Cooperation), APIIC VC & MD Praveen Kumar, and others participated.