The Government of Andhra Pradesh on October 26, 2024, introduced the Andhra Pradesh MSME & Entrepreneur Development Policy, 4.0 (2024-29) to spur MSME growth, align with the "AatmaNirbhar Bharat 2047" vision, and position Andhra Pradesh as a competitive and inclusive global manufacturing hub.
The MSME sector, a crucial growth engine, contributes significantly to India's GDP (30%), exports (48%), and employment (110 million jobs). This policy aims to create a robust MSME ecosystem, reduce regional disparities, and enhance the sector's competitiveness.
Extensive consultations were held with industry stakeholders, associations, and government departments. The finalized policy, incorporating feedback and recommendations, emphasizes rationalized incentives, technology upgradation, and capital subsidies, with special provisions for women, SC/ST, and specially-abled entrepreneurs.
The policy aspires to achieve the goal of "One Entrepreneur, One Family" by 2030. Operational guidelines for implementing the policy will be issued separately by the Director of Industries, Mangalagiri, and the CEO, AP MSME Development Corporation, Vijayawada.
[Notification No. 69]
