Saturday, February 24, 2024

New industrial policy to handhold entrepreneurs

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Chief Minister YS Jagan Mohan Reddy has directed the officials to formulate the new industrial policy in such a way that it should handhold the entrepreneurs from conceptualisation to commissioning to marketing their products.

At the initial review meeting on the formulation of the new industrial policy held here on Monday, the Chief Minister directed them to give importance to the marketing of the products and the necessary tie-up at the international level. MSMEs have to face tough competition in the world and they can march ahead if they have only tie-ups with international companies and agencies, he said adding that the official machinery should assist the entrepreneurs from the formulation of the concept to the commissioning of the industry to the marketing of their products.

Asserting that the new industrial policy as a whole should meet these demands of the entrepreneurs, he said that the MSME policy in particular should advise, assist and be supportive of the start-ups in every respect.

He also instructed the officials to build a special facility in an area of 3 lakh square feet in a main location in Visakhapatnam to cater to the needs of start-ups and suggested that it should also house the office of the industries department.

While giving top priority to encourage start-ups, it is also necessary to pay attention to providing basic infrastructure to meet the demands of port-based industries, the Chief Minister told the officials. The new industrial policy should be formulated keeping in mind all the above points, he said.

Special CS (Industries and Commerce) R Karikal Valaven, Finance Secretaries KVV Satyanarayana, Gulzar, and other officials were present.

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