VIJAYAWADA: With an aim to encourage the startups and entrepreneurs in the State, Chief Minister YS Jagan Mohan Reddy on Monday asked the officials to build a special facility spanning an area of 3 lakh square feet at a prime location in Visakhapatnam to cater to the needs of startups. The facility would also house the office of the industries department, the Chief Minister said.
The decision was taken even as CM Jagan held an initial review meeting on the formulation of new industrial policy. He directed senior officials to formulate the policy in such a way that it assisted entrepreneurs from the stage of formulation of concepts to commissioning of industries and marketing of their products in the State.
“Micro Small and Medium Enterprises (MSME) have to face tough competition in the world and they can march ahead if they have only tie-ups with international companies and agencies,” the CM said. He asserted that with the increasing competition in the MSME sector, facilitating proper marketing for their products would help boost their business.
“The new industrial policy as a whole should meet the demands of the entrepreneurs.” The CM said that the MSME policy in particular should advise, assist and support the start-ups in every respect.
“While giving top priority to encourage startups, it is necessary to pay attention to providing basic infrastructure to meet the demands of port-based industries,” the CM told the officials. “The new industrial policy should be formulated keeping in mind all the above points.”