Andhra Pradesh Prepares for Business Expo 2024 to Boost MSMEs and Entrepreneurs

In a bold effort to reshape Andhra Pradesh's economic environment, Chief Minister N. Chandrababu Naidu has set a high goal: to nurture an entrepreneur in every household and attain a 15% annual growth rate, bridging the state's gap with leading economies throughout India. Kondapalli Srinivas, Minister for Micro, Small, and Medium Enterprises (MSME) and NRI Empowerment, highlighted this ambitious target during the curtain-raising event for the upcoming 'Business Expo 2024' in Vijayawada.

“Our focus is simple but powerful: ‘Think Global and Act Global,’” declared Mr. Srinivas. “We are dedicated to gaining the trust of our entrepreneurs by offering land at subsidised rates and resolving key issues, especially those faced by industrial clusters like Auto Nagars and Mallavalli Industrial Park.” The government is also planning to establish incubation centres and introduce a new virtual workplace policy with incentives for setting up innovative workspaces in Andhra Pradesh.

Highlighting the need for structural support, A.P. Chambers President Potluri Bhaskara Rao urged the government to establish MSME Facilitation Centres in every district and overhaul the District Industries Centers. “Lowering the cost of inputs—like fuel, power, and raw materials—will ease the financial strain on MSMEs and empower local businesses to thrive,” he emphasised.

The state’s potential as a growth hub was also spotlighted by Nandani Salaria, CEO of Andhra Pradesh MSME Development Corporation. “Andhra Pradesh has vast potential but faces a skills gap that holds us back. The government’s proactive measures to address this will help close that gap, fostering a skilled workforce for our industries,” she said.

The Business Expo, which will be held in Vijayawada from November 29 to December 1, promises to be a lively display, with over 150 exhibitors from sectors like manufacturing, autos, food processing, tourism, hospitality, infrastructure, and real estate. This great event seeks to provide a significant platform for promoting MSMEs and boosting economic vibrancy in Andhra Pradesh.