AP CM for 3 lakh sft startup facility in Vizag

Vijayawada: Chief Minister Y S Jagan Mohan Reddy on Monday directed the officials to formulate the New Industrial Policy in such a way that it should handhold the entrepreneurs from conceptualization to commissioning to marketing their products.

At the initial review meeting on the formulation of New Industrial Policy, he asked them to give importance to marketing of the products and the necessary tie-up at international level. Reddy also instructed the officials to build a special facility in an area of three lakh square feet in a main location in Visakhapatnam to cater to the needs of startups and suggested that it should also house office of the industries department.

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 commissioning of the industry to the marketing of their products.

Asserting that the new 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 to the startups in every respect. While giving top priority to encourage startups, it is also necessary to pay attention to provide 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.